A&P Selects ALS SVP/COO Richard Sarnie As Vice President, Risk Management
$8.8 Billion Dollar Supermarket Chain Calls On ALS Executive To Be A Central Figure In Risk Management Efforts
Online, December 1, 2010 (Newswire.com) - The ALS Group, an independent insurance and risk management and advisory firm, has announced that Senior Vice President & Chief Operating Officer Richard Sarnie has been chosen by The Great Atlantic & Pacific Tea Company (A&P) as Vice President, Risk Management.
The appointment comes at a critical time for the supermarket chain, which despite 2009 sales of $8.8 billion is trying to strengthen its foundation and improve their performance going forward. The retailer now employs approximately 48,000 across 395 stores in six states and the District of Columbia under the following names: A&P, Waldbaum's, Pathmark, Best Cellars, The Food Emporium, Super Fresh and Food Basics.
Sarnie will begin with the company November 29, 2010, and be immediately called upon to lead a Risk Management team in identifying, assessing and prioritizing risks, while maximizing opportunities for the Company.
"We're honored a company the size of A&P would recruit from our firm for such an important position" said Al Sica, Managing Principal of The ALS Group. "During Rich's tenure with The ALS Group, he was involved with many large, complex projects, including helping to structure a large association professional liability program, numerous risk management policy coverage modifications, and insightful guidance to client on their claims and safety programs, which led to clients realizing a lower Total Cost of Risk (TCoR)."
"An opportunity such as this is once in a lifetime for a Risk Manager" said Sarnie. "This will be a magnificent challenge, and I'll always be thankful to Al and the entire ALS team for my time in further enhancing my Risk Management skills."
"Rich will be missed," added Sica, "but he leaves behind a very talented and deeply experienced team here at The ALS Group, one of the largest independent risk management advisory firms in the USA."
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