Penn Traffic Names Panasuk President, CEO

SYRACUSE, N.Y. - Penn Traffic here said yesterday Robert Panasuk has been named president and chief executive officer and Gregory J. Young has been named executive vice president and chief operating officer. The two have shared the title of co-chief operating officers for the past two months. "In just a short amount of time, the executive management team of Bob Panasuk and Greg Young has energized our employees and set an exciting direction for improvement in all areas of our operation," said Robert Kelly, Penn Traffic chairman. "Under their leadership. we believe the company is rapidly becoming more competitive and laying the groundwork for future growth in sales and profitability." Panasuk joined Penn Traffic in October after serving as executive vice president of A&P, Montvale, N.J., responsible for merchandising, marketing and distribution for U.S. operations; Young rejoined Penn Traffic in July after working there for nearly 25 years before working for C&S Wholesale Grocers, Keene, N.H., as head of retail operations and for A&P as a group vice president. Panasuk succeeds Bob Chapman as CEO; Chapman, a 38-year veteran of Penn Traffic, was named CEO in 2004 but resigned abruptly in October. Penn Traffic operates 111 supermarkets and supplies 122 independent customers in Pennsylvania, Upstate New York, Vermont and New Hampshire.