'Next Level' for Pantry Officials elaborate on choice for Sodini's replacement
By Angel Abcede
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CARY, N.C. -- Frank Paci, executive vice president of business operations and CFO for The Pantry, elaborated further on the pick of Terrence Marks to succeed retiring chairman and CEO Pete Sodini, telling CSP Daily News that the search committee was looking for someone who could "take the business to the next level."
An internal committee chose Marks, a former executive vice president of Atlanta-based Coca-Cola Enterprises Inc. and president of its North America group, after an internal and external search.
"[Marks] had the right set of skills in terms of operating strengths and strategic vision," Paci said, "someone who was ready to build the Kangaroo Express brand and someone who had the skill level to manage all facets of a large organization."
Paci pointed out how Marks' background with the beverage giant made for a "pretty close fit" to the convenience industry, especially regarding the cold vault. He also noted Marks' first job was in the trucking industry, giving him insight into the supply chain aspects of The Pantry's business.
Though Paci was also considered a candidate for the position, he expressed enthusiasm over the decision and looked forward to working with Marks. "[The position] would be a great opportunity for anyone, but my goal is to make The Pantry as successful as possible," he said, noting how the board is very pleased with the current management team and one of Marks' goals will be to energize staff in its efforts going forward.
In a statement released last week by the company, Marks, 49, said his initial focus will be to work with the board and the management team to "refine our strategic vision and prioritize our investments to drive shareholder value."
From 1987 to 2004, Marks held various positions in sales, operations, finance and general management during his time with Coca-Cola. He served as the president of Coca-Cola Enterprises Inc. North America Group from 2005 to 2008.
The Pantry , Cary, N.C., has 1,679 stores in 11 states, primarily under the Kangaroo Express banner. Known for its aggressive growth-by-acquisition strategy, the publicly traded company has more recently turned to making operational improvements, investing in technology and foodservice programs. Sodini, who lead much of the expansion effort, announced his retirement this past spring. Marks is scheduled to take over September 25.
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Though Paci was also considered a candidate for the position, he expressed enthusiasm over the decision and looked forward to working with Marks. "[The position] would be a great opportunity for anyone, but my goal is to make The Pantry as successful as possible," he said, noting how the board is very pleased with the current management team and one of Marks' goals will be to energize staff in its efforts going forward.