Abel Porter Steps In as Fairway Market's New President and CEO
NEW YORK, NY - Fairway Market has named retail veteran Abel Porter as its new President and CEO, replacing current leader Jack Murphy.
As it continues its efforts in making a comeback from last year’s Chapter 11 bankruptcy, the retailer confirmed with AndNowUKnow that reports of the executive changeup that surfaced in recent days are accurate.
With 17 locations in the New York area, according to its website, Porter takes up the torch Murphy originally held when he came in to help bring the company out of cost and sale hardships in 2014.
As we reported previously, Fairway filed for bankruptcy last year, and has made no secret of working tirelessly on a turnaround since announcing a reorganization plan to cut its debt in half last June.
The incoming President and CEO brings a strong background in leadership for the buy-side. Like his predecessor, Porter joined Fairway out of retirement.
He worked almost 20 years with Smith’s Food and Drug, working his way up to CEO and President before retiring in the late 90s. He is also the former President of Foodland Supermarkets.
With a foundation laid in efforts to revive its revenue, what will we see from the retailer in the months to come? Keep checking in with AndNowUKnow as we continue to report the latest.
