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CARY, N.C. – Convenience store chain The Pantry Inc. named a successor for its current president and CEO, Peter J. Sodini, who is retiring from his post at the company, and from its board of directors, at the end of next month. Taking Sodini's place is Terrance M. "Terry" Marks, who comes to the position from his most recent role as executive vice president of Coca-Cola Enterprises Inc. (CCE) and president of Coca-Cola Enterprises Inc. North American Group.
Marks will officially begin his new role Sept. 25, 2009. In a statement, he said his initial focus will be to work with the chain's board and management team to "refine our strategic vision and prioritize our investments to drive shareholder value."
Marks, 49, holds more than 21 years of experience serving the convenience, grocery, mass merchant and quick-serve restaurant (QSR) industries, according to The Pantry. In his role as president of CCE North American Group, Marks directed all sales, marketing, finance, operations, manufacturing, distribution, supply chain and human resources from 2005 to 2008 for the $15 billion enterprise.
Prior to that, from 1987 to 2004, Marks held various positions in sales, operations, finance and general management at CCE, including vice president and general manager of CCE's New England Division; vice president and chief financial officer of its Eastern North American Group; region vice president in the North American Group; and was elected vice president and chief revenue officer of CCE North American Group in 2003.
"After an extensive search process, which included consideration of a number of highly-qualified internal and external candidates from various industries and backgrounds, the board is delighted that Terry will be joining The Pantry as president and CEO," Thomas M. Murnane, lead director and chairman of the search committee, said in a statement. "Terry is a proven dynamic leader who possesses a unique blend of operating experience, strategic vision and brand-building expertise. His broad industry knowledge, coupled with his extensive background as a professional manager, make him ideally suited to lead the company as it continues to grow and evolve."
Marks added: "The Pantry is already one of the largest chains in the industry and has tremendous potential to continue to grow and become a best-in-class operator."
Regarding Sodini, Murnane said: "The board is very appreciative of the leadership that Pete Sodini has provided in building this business into what it is today, and is confident in Terry's ability to lead us into the future."
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