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Penn Traffic announces resignation of SVP, CFO Nestor


SYRACUSE, N.Y. An executive from supermarket operator The Penn Traffic Co. will leave his post, the company announced earlier this month.

SVP and CFO Tod Nestor will resign Friday, Penn Traffic said, with controller Eric Sattler taking over as CFO and VP finance.

“Over the last two years, we’ve assembled a talented and experienced grocery and retail management team,” president and CEO Gregory Young said in a statement. “Together, we’ve made extraordinary strides in stabilizing the business, enhancing our merchandising and marketing strategies, strengthening our balance sheet, improving our cost structure and resolving the company’s major legacy legal issues. We thank Tod for his contributions to our team and wish him the best in his new endeavor.”

Sattler has worked in financial, accounting, operational and general management for more than 20 years, having served in various finance positions at Penn Traffic since 1993.

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