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Former CEO, board chairman of Price Chopper dies at 78

BY Alaric DeArment

SCHENECTADY, N.Y. Lewis Golub, former CEO and board chairman of Price Chopper, died in his home in Vero Beach, Fla., Sunday, the supermarket chain announced. He was 78.

“Lewis Golub was more than just a great businessman. He was a truly loving and caring person who believed deeply in family and community service,” current Price Chopper president and CEO Neil Golub said in a statement. “His values are a big part of our corporate culture today.”

A public memorial service for Golub took place at the Congregation Gates of Heaven in Schenectady at 11 a.m. Wednesday.

Golub began his career at Price Chopper, a company that his father and uncle had started, working as a store clerk, tractor-trailer drive, forklift operator and electrician, attending Siena College in Latham, N.Y., earning his bachelor’s degree in food distribution from Michigan State University and returning to New York state’s Capital Region after two years’ service in the U.S. Army.

He and Neil Golub, his cousin, took over the company in the mid-1970s. He began a profit-sharing stock plan with employees, and employees as a whole now own 52% of the company.

Golub received the Corning Award from the New York State Business Council in 2003 in recognition of his achievement in leadership and business, having previously served in a number of executive positions for the organization. He also was vice chairman of the board of trustees for the Empire State College Foundation, a permanent member of the Institute on Professionalism in the Law and an advisory board member for the Albany College of Pharmacy.

“The loss we are all feeling is more than just the pain of losing someone in your company,” Neil Golub said. “He was a part of our family, and not just as a father, an uncle or a cousin. He was a part of the Price Chopper and Capital Region family, and everyone in our organization and our family will miss him deeply.”

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A&P CEO leaves as Q2 loss widens

BY Antoinette Alexander

MONTVALE, N.J. A&P has announced the departure of president and CEO Eric Claus. The news came as the company posted a wider net loss for the second quarter and a dip in sales.

Christian Haub, executive chairman of the board, has reassumed the CEO duties, a position he held from 1998 to 2005, while the company searches for a successor. 

“The current challenging economy continues to impact our business. The macro headwinds, including rising unemployment, intensifying price competition and now also deflation, are creating an even more difficult short-term economic environment,” Haub stated. “Nonetheless, we have made progress in several of our formats and many of our initiatives.” 

Sales for the second quarter ended Sept. 12 were $2.1 billion, compared with $2.2 billion in the year-ago period. Same-store sales dropped 3.8%. 

Reported loss from continuing operations was $62.2 million, compared with a loss of $4.3 million last year, which includes a $50 million increase in non-cash mark to market adjustments related to financial liabilities. Total net loss for the quarter was $80.3 million, or down $3.74 per diluted share, compared with a loss of $18.1 million, or a decrease of $1.97 per diluted share, in the year-ago period.

Haub noted that securing more than $400 million in new funds “was clearly done at the right time to ensure that we have the resources to address future debt maturities and to invest in our optimization strategies.”

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Garnier Fructis’ Anti-Humidity Hairspray collection

BY Antoinette Alexander

NEW YORK Garnier Fructis’ new Anti-Humidity Hairspray collection was spotted on shelf at a CVS/pharmacy in Manhattan.

Unveiled at a press event earlier this year, the Anti-Humidity Hairsprays are infused with bamboo extract. The line includes four formulas: Full Control Anti-Humidity Hairspray (Ultra Strong Hold), Sleek & Shine Anti-Humidity Hairspray (Ultra Strong Hold), Flexible Control Anti-Humidity Hairspray (Strong Hold) and Volumizing Anti-Humidity Hairspray (Extra Strong Hold).

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