Peoples Names New Top Team
Peoples Drug Stores Inc. of Alexandria has named a new top management team to restructure the company for an expected growth of 8 percent in the next decade.
David Eisenberg, former senior vice president of marketing, was promoted to the newly created position of executive vice president and chief operating officer. He will report to Sheldon W. Fantle, chairman, president and chief executive officer, assuming responsibility for the operation of the 832-store drug chain.
Richard L. Barker was named senior vice president of finance and joins Peoples from May Department Stores International Inc., where he was executive vice president and chief administrative officer.
Robert M. Arensmeyer, executive vice president and chief financial officer, will retire in September. Jeffery M. Fantle, former president and chief operating officer of Peoples' Lane Drug Store Division, will replace Nicholas Simon as senior vice president of operations. Simon also will retire this year. Fantle is the son of Sheldon Fantle.
Eisenberg started his career at Peoples Drug working behind the soda fountain while he was in school. He progressed to management and store operations and then to the department of marketing.
In 1980, he was named senior vice president of marketing. In his new position, he will oversee marketing, operations, pharmacy and distribution.
Eisenberg said Peoples continues to expand at a rate of 8 percent, equivalent to opening 50 to 60 stores a year, or one store every week. The company operates in 14 states and has six distribution centers nationwide.
Peoples acquired 31 Shoppers Drug Mart stores in Florida last May and 134 Rea & Derick stores in Pennsylvania the previous December. The company is looking to acquire additional chains, according to Eisenberg.
"We are growing rapidly, and this is the management team for the next 15 years," said Eisenberg.
"We expect to have 1,000 stores, annual sales of $2 billion and 3 percent net profit by 1990," he said.
The company also is aggressively remodeling and upgrading stores, Eisenberg said. Pharmacy terminals, which computerize the patient profile and prescription service of the stores, are being installed at a rate of 200 a year, and all stores should be equipped by 1988. Point-of-purchase scanning and inventory management machines also will be added to computerize inventory.
Peoples will announce additional personnel changes within the next 30 days.
BANKING, FINANCIAL SERVICES
Clifford A. Cutchins III, chairman of the board and chief executive officer of Sovran Financial Corp., announced several changes that will "facilitate Sovran's operation as a multibank holding company."
Sovran Financial, originally a one-bank holding company, acquired banks in Maryland and the District in March. C. Coleman McGehee, president and chief operating officer of Sovran Financial, became chairman of the board of Sovran Bank, N.A.
Randolph W. McElroy, vice chairman of Sovran Financial and Sovran Bank N.A., became president and chief executive officer of Sovran, N.A. John B. Bernhardt, also vice chairman of Sovran Financial and Sovran Bank, N.A., became president and chief executive officer of Sovran Services, a new division that will provide management services to the three banks and the holding company.
Charles C. Francis, vice president of investor relations with the Washington public relations firm Gray and Co., has been named to the Financial Communications and Investor Relations Committee of the National Association of Securities Dealers Inc. The FCIRC formulates and submits corporate positions to the NASD Corp. Advisory Board.
Dynatech Corp., a Massachusetts-based communications parent company, named Karl Damanda as division executive of the Transmission and Protocol Converter Division to oversee Dynapac, Dynapac Systems, Innovative Electronics and Cybermation.
James L. Gray, the former director of communications of United Jewish Appeal Federation of Greater Washington, has founded James L. Gray Public Relations and Communications in Washington.
Edward T. Stanfill, former director of Intelligence Programs for Grumman Data Systems Corp., became director of Washington Operations for FiberCom Inc., a Roanoke, Va., firm that manufactures and installs fiber-optics and data-transmission equipment.
Steven F. Stockmeyer, a 20-year veteran in government relations, was named a principal in the local public relations firm of Wexler, Reynolds, Harrison & Schule Inc. Stockmeyer served as senior vice president for government relations at the National Association of Broadcasters before opening his own government relations consulting firm in 1983.
Ronald Townsend has been appointed vice president and general manager of WDVM-TV, the Gannett-owned CBS affiliate in Washington. Townsend, who began his broadcast career at CBS in 1960, had been station manager since 1978. He will replace Edwin Pfeiffer, who announced his retirement from WDVM to pursue an equity position in broadcasting.
Iverson Technology Corp., a publicly owned systems-integration firm based in McLean, appointed Kenneth E. Wylie, former director of federal sales for Masstor System Corp., senior vice president of marketing. ITC also named Barry S. Josephson, former IBM federal government account manager, vice president of federal systems; R. Joseph Market, a 19-year IBM veteran, vice president of commercial systems; and Edward K. Wachter, formerly with Lockheed Electronics Co., vice president of programs.
Richard N. Hykes, former president of Migent Software Corp., joined United Software Security Inc., a software-development firm in Vienna, as vice president of Mainframe Software. Hykes will oversee the joint venture between Hamilton-Reid Associates and USS to develop and market a software package that will link mainframe security software to user authentication devices.
Capital Systems Group Inc., a Rockville information management and consulting firm, named Lilly B. Gardner vice president and director of the Health and Information Sciences division and Thomas Sexton vice president of sales for the Commercial System Division.
Vitro Corp., a major systems engineering company based in Silver Spring, has promoted Porter S. Kier to senior vice president of Business Development and George K. Krikorian to senior vice president of Strategic, Submarine and Support Systems. Kier was previously assistant to the executive vice president of business development. Kirkorian, previously vice president of the Systems Integration branch, was responsible for systems integration support to the U.S. Navy's Strategic Systems Program Office.
Spaulding & Slye, a major real estate development company, appointed John T. Caldwell vice president of the Washington regional office. Caldwell was transferred from the company's Oklahoma City office, where he was assistant vice president and brokerage manager.
TransCapital Corp., a Northern Virginia company that leases high-tech and medical equipment, named Patrick Miller vice president of equity sales. Miller, a former New York investment banker, will assist the company in raising equity for its investment portfolios.
EDAW Inc., a national land-planning and design firm, named architect George C. Troop a principal in the Alexandria office. Troop, with 15 years' experience in planning and urban design, will assume operational responsibility for the 60-person office.
Gary L. Wingo, formerly with Occidental Petroleum Corp. and Tenneco Oil Co., became an associate of the Washington office of the MAC Group. The MAC Group, formerly the Management Analysis Center, is an international management consulting firm.
Paul Irwin was named vice president and general manager of the Food Service Division of McCormick & Co., the Baltimore seasoning and specialty food company. Irwin was previously the president of Golden West Foods Inc., a subsidiary of McCormick in Bedford, Va.