The Bon-Ton Stores, Inc. announced that Tim Grumbacher has informed the Board of Directors of the company of his decision to retire as Chairman of the Board of Directors and Strategic Initiatives Officer effective May 13, 2017. Mr. Grumbacher will continue to serve as Chairman Emeritus and Advisor to the Chief Executive Officer. Debra K. Simon, a current member of the Board of Directors of the company, has been elected to succeed Mr. Grumbacher as Chairman of the Board, also effective May 13, 2017. Mr. Grumbacher has been a member of the Board of Directors since 1967 and served as Chairman of the Board since 1991. He also served as Chief Executive Officer of the Company from 1985 to 1995 and held various senior management positions within the Company since 1977. Ms. Simon, the wife of Mr. Grumbacher, has been a member of the Board since March 2016. She had been a practicing CPA and was employed by SF & Company (now Baker Tilly) for 32 years before retiring in 2015. She served in various leadership positions during her tenure at SF & Company, including Chief Operating Officer from 2010 to 2015.