MONTVALE, N.J. – The Great Atlantic & Pacific Tea Company, Inc. (A&P) today announced the promotion of Raymond P. Silcock to the role of Chief Financial Officer reporting to President and CEO Sam Martin. Mr. Silcock succeeds Frederic F. ("Jake") Brace, who is resigning from his roles as Chief Restructuring, Financial and Administrative Officer in conjunction with A&P's emergence from Chapter 11. Mr. Brace will continue to serve the Company in an advisory capacity.
"I am delighted that Ray Silcock has agreed to assume the role of CFO, as we mark A&P's emergence with a strong foundation for future performance," said Sam Martin, A&P's President and Chief Executive Officer. "Ray brings to A&P significant food industry experience as a CFO of both private and public companies. Since joining the Company in December, Ray has worked alongside Jake and the entire finance team to complete our restructuring and put in place the right financial foundation to support our emergence as a private company."
Mr. Martin continued, "I want to personally thank Jake Brace for his significant contributions to the Company. Over the last year-and-a-half, Jake has played a central role in helping guide the Company through the Chapter 11 process, advance our turnaround and successfully transform A&P into a much stronger company."
Raymond Silcock joined A&P in December 2011 as head of finance. Prior to joining A&P, he was executive-in-residence at Palm Ventures LLC, a private equity firm. Over the previous 15 years, he served as Chief Financial Officer of a number of public and privately held companies in the food and beverage industry, including UST Inc., Swift & Co. and Cott Corporation. Mr. Silcock began his career at Campbell Soup Company, where he served in a variety of financial roles of increasing responsibility over his 18-year tenure. He holds an MBA from the Wharton School of the University of Pennsylvania.
About A&P
Founded in 1859, A&P is one of the nation's first supermarket chains. The Company operates 320 stores in six states under the following trade names: A&P, Waldbaum's, Pathmark, Best Cellars, The Food Emporium, Superfresh and Food Basics.
Source: A&P
