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Article: Thrifty Payless names Smith to replace McAlear as CEO. (Thrifty PayLess; Marty Smith; Tim McAlear)
- Article from:
- Chain Drug Review
- Article date:
- December 5, 1994
- Author:
CopyrightCOPYRIGHT 1994 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WILSONVILLE, Ore.--In a major shakeup at Thrifty PayLess Inc., Tim McAlear has been dismissed as chief executive officer and replaced by Marty Smith, who has served as president and chief executive officer of the company's Bi-Mart division since 1985.
In addition, the drug chain has appointed Gordon Barker president and chief operating officer. A 26-year veteran of PayLess Drug Stores, he had been senior executive vice president in charge of store operations at Thrifty PayLess.
The sudden moves by the board of directors come less than a year after Thrifty Corp.'s parent, TCH Corp., acquired PayLess from Kmart Corp. for about $1 billion in cash and stock. At ...