By George Anderson
Where do old Kroger executives go when they leave the company? They go to drugstore chains, of course.
Longs Drug Stores has announced that its Board of Directors has selected Warren Bryant, former senior vice president, Kroger to be the company's new president and chief executive officer. (Robert Miller, another former Kroger senior executive, has been leading Rite-Aid's turnaround.)
Mr. Bryant succeeds Harold Somerset, who will become vice chairman of the board for Longs.
Speaking of his new job and company, Mr. Bryant said, "I'm very familiar with Longs' strong regional presence due to my assignments in Kroger's Western Region. I now have the opportunity to better involve myself with a company whose market leadership in the chain drug industry is well known. My first priority is learning Longs by spending time in the stores working with the people who serve our customers on a daily basis."
Mr. Somerset will continue to oversee corporate while Mr. Bryant makes store rounds and transitions into his new role.
Moderator's Comment: Two Questions--
- What is it about Kroger executives that make them attractive as leaders of other companies (sort of the GE of the retail world)?
- What is going on at Kroger that two senior executives have left the company in the same week?
A couple of days ago, Shopko Stores announced that Sam Duncan was its new chief executive and president. Mr. Duncan was previously president of Fred Meyer (a division of Kroger). [George Anderson - Moderator]