Aug. 27, 2010 (Business Wire) -- Christian Haub, Executive Chairman, The Great Atlantic & Pacific Tea Company, Inc., said: “Recent press reports on comments from Tengelmann about the future of A&P were taken out of context and may have created a misleading impression about the Company’s strategic direction. A&P is taking the steps necessary to make the Company stronger and more efficient. Since appointing Sam Martin as President and CEO one month ago and announcing our turnaround strategy, we have moved quickly to assemble an impressive and experienced management team, which process was completed with yesterday’s announcement of Tom O’Boyle joining the Company. Our team is now focused on executing against the turnaround and strengthening the operating foundation of our Company. Our executive team, the A&P Board and our major shareholders, Tengelmann and Yucaipa, remain fully and intensely focused on achieving an effective turnaround at A&P.”
About A&P
Founded in 1859, A&P is one of the nation's first supermarket chains. The Company operates 429 stores in 8 states and the District of Columbia under the following trade names: A&P, Waldbaum's, Pathmark, Best Cellars, The Food Emporium, Super Foodmart, SuperFresh and Food Basics.
A&P
Investors:
Krystyna Lack, 201-571-4320
Vice
President, Treasury Services
or
Press:
Lauren La
Bruno, 201-571-4453
Senior Director, Public Relations
