Retail News Breaks Archives
Kinney promotes financial exec, hires retail director
June 18th, 2010
GOUVERNEUR, N.Y. – Kinney Drugs has promoted Michael Burgess to vice president of financial planning and treasury services and hired Duckwall-ALCO executive Jim Spencer as director of retail operations.
The regional drug store chain said Friday that both Burgess and Spencer will play key roles on the company's management team and will serve on the executive committee.
As vice president of financial planning and treasury services, Burgess will be responsible for the oversight of the corporate budget and capital spending that will direct financial planning and budgeting practices. He will manage corporate cash functions, treasury and accounting activity while continuing to provide strategic analysis and management of insurance and financial risk management programs, according to Kinney.
During his 31 years at Kinney, Burgess has served in a variety of positions, including in the operations, information technology and finance departments, the retailer added.
As director of retail operations, Spencer will oversee front-end store operations while maintaining a retail environment that continues to support Kinney's mission of delivering top-notch customer service, the company said.
Kinney noted that Spencer has spent two decades in the retail industry working for Walmart and most recently discount chain Duckwall-ALCO Stores Inc., where he was senior vice president of operations. The pharmacy chain said Spencer has a diverse background and vast knowledge of the industry and has held positions in U.S. and international operations and business development.
"Mike and Jim's industry experience will complement our mission of providing the highest-quality pharmacy, health and retail services to the communities we serve," Kinney president and chief operating officer Bridget-ann Hart said in a statement. "We will continue to benefit from Mike's expertise while welcoming Jim's retail proficiencies to the Kinney family. We look forward to their contributions as we continue to build our employee-owned company."
Kinney Drugs operates 92 stores in central and northern New York and Vermont. The company also operates three other divisions: ProAct Inc., a prescription benefit management company; HealthDirect institutional pharmacy services; and HealthDirect mail-order pharmacy services.