Mike Bettiga Appointed Interim CEO of Shopko Stores
GREEN BAY, Wis., Oct. 10, 2012 /PRNewswire/ -- Shopko Stores announced today that Shopko Chief Operating Officer Mike Bettiga has been appointed Interim Chief Executive Officer of the company, effective immediately. Bettiga replaces Paul Jones who left the company to pursue another opportunity.
"We appreciate the many contributions Paul Jones has made to Shopko during the past five years and wish him nothing but the best," said Scott King, Senior Managing Director of Sun Capital Partners, a leading private investment firm whose affiliate owns Shopko. "A national search is under way to select a new leader for the Company."
"In the meantime, we are delighted to have Mike Bettiga, an experienced retail executive, serve as Interim CEO," King added. "With the support of an outstanding management team, the Board and I have every confidence that Shopko will continue on its successful path forward. Mike has over 35 years of experience in the retail industry and served as a senior executive for many of those years. His leadership skills and industry knowledge will serve our customers and employees well during this interim period."
Bettiga began his career with Shopko as a pharmacist in 1977. He has held a number of positions during his tenure with the Company, including executive leadership of store, pharmacy and optical operations; retail health merchandising; and responsibility for the Shopko Express stores. In 2009, Mike was promoted to Executive Vice President and Chief Operating Officer, where his responsibilities included leading all retail health divisions, store operations, legal, real estate, corporate projects and business development.
"I am grateful for the opportunity to serve as Interim CEO for Shopko, a company that I have been an integral part of for most of my professional career," said Bettiga. "We have ambitious plans for the future, including the continued roll-out of the Shopko Hometown concept and I look forward to leading the team on that effort and our other growth initiatives."
Founded in 1962 and headquartered in Green Bay, Wisconsin, Shopko Stores Operating Co., LLC is a $3 billion retailer that operates almost 350 stores in 22 states throughout the Midwest, Mountain, North Central and Pacific Northwest regions. Retail formats include 134 Shopko stores, providing quality name-brand merchandise, great values, pharmacy and optical services in small to mid-sized cities; 5 Shopko Express Rx stores, a convenient neighborhood drugstore concept; and 12 Shopko Hometown locations, a smaller concept store developed to meet the needs of smaller communities. In addition, Shopko is in the process of converting over 170 recently-acquired stores and pharmacies to the Shopko Hometown brand. For more information, visit www.shopko.com.
About Sun Capital Partners
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in more than 285 companies worldwide with combined sales in excess of $45 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles and New York, as well as affiliates in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, visit www.SunCapPart.com.
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