The board of D.C. National Bank has announced the election of Thomas S. Condit as president and chief executive officer of the bank. Condit was formerly executive vice president and chief administrative officer of D.C. National.
In making the announcement, chairman S. Greenhoot Fischer said, "Tom Condit has the commitment to make D.C. National into the finest, independently owned, community oriented bank in Washington, D.C. We expect that our business development efforts and our operating record will continue to imporve under his leadership."
Prior to joining D.C. National in 1977, Condit held a variety of commercial banking, retail banking and senior administrative positions with American Security Bank and the Bank of Virginia.
Food Fair Inc.. which has been operating under Chapter 11 of the federal Bankruptcy Act since Oct. 2, last week named Grant C. Gentry, former president of Great Atlantic & Pacific Tea Co., as president, chief executive officer and a director.
The selection of Gentry has been approved by Food Fair creditors and a federal bankruptcy judge in New York.
Food Fair has offered Gentry a five-year contract at $350,000 a year in addition to stock options allowing him to buy 200,000 shares of Food Fair common stock at $2 a share. Gentry has asked Food Fair to set up a $2 million cash fund to ensure he will be paid in the event the supermarket chain goes bankrupt.
Gentry replaces Jack M. Friedland as president, who was forced out of office in November by creditors who were unhappy with his management and disturbed by reports that Food Fair directed some of its business to real estate and food brokerage firms run by relatives of Food Fair's top executives.
Bruce A. Petty has been appointed vice president and director of continuing education at University Research Corp.