GPM Investments LLC, the locally-based owner of hundreds of convenience stores, announced yesterday its long-time CEO Dave McComas resigned.
The company said McComas, who led the company through three major acquisitions, resigned to pursue other business interests.
CSP Daily News, a convenience store news site got McComas on the record about his plans:
McComas, who was his characteristic man of few words when contacted by CSP Daily News, said his leaving is part of a mutual agreement between himself and the company. “It’s something we’ve been talking about for a while,” he said. “I’ll be here for a little while through a transition period.”
While not offering any details, McComas confirmed he is moving on to other projects. “I’ve got a couple of things that I’m trying to decide about.”
The company said it plans to begin a search for an executive replacement immediately but in the meantime has appointed David Eisenberg, the former CEO of Peoples Drug stores as interim CEO. Eisenberg has been an advisor to the company.
GPM also announced yesterday that it secured a $46 million line of credit from private investment firm Bayside Capital. Not much detail was given about the deal other than it will be used to continue GPM’s strategic growth and expansion plans.
GPM owns and operates 213 convenience stores under the Fas Mart and Shore Stop brands in Virginia, Maryland, Delaware, Connecticut, North Carolina, Pennsylvania, New Jersey and Tennessee.
Read more about the deal with Bayside here.
GPM Investments LLC, the locally-based owner of hundreds of convenience stores, announced yesterday its long-time CEO Dave McComas resigned.
The company said McComas, who led the company through three major acquisitions, resigned to pursue other business interests.
CSP Daily News, a convenience store news site got McComas on the record about his plans:
McComas, who was his characteristic man of few words when contacted by CSP Daily News, said his leaving is part of a mutual agreement between himself and the company. “It’s something we’ve been talking about for a while,” he said. “I’ll be here for a little while through a transition period.”
While not offering any details, McComas confirmed he is moving on to other projects. “I’ve got a couple of things that I’m trying to decide about.”
The company said it plans to begin a search for an executive replacement immediately but in the meantime has appointed David Eisenberg, the former CEO of Peoples Drug stores as interim CEO. Eisenberg has been an advisor to the company.
GPM also announced yesterday that it secured a $46 million line of credit from private investment firm Bayside Capital. Not much detail was given about the deal other than it will be used to continue GPM’s strategic growth and expansion plans.
GPM owns and operates 213 convenience stores under the Fas Mart and Shore Stop brands in Virginia, Maryland, Delaware, Connecticut, North Carolina, Pennsylvania, New Jersey and Tennessee.
Read more about the deal with Bayside here.