Fleming Names New CFO

DALLAS - Leading grocery distributor Fleming Cos. Inc. has named Mark Shapiro as its chief financial officer, the company said last week. Shapiro, 43, will replace current CFO Neal Rider, who was named to the new position of executive vice president, business and operations development.

Shapiro joined the company last year after serving as CFO of Big Lots Inc.

Supporting Rider will be Matt Hildreth, 37, who will become the senior VP of business development, and Chris Walsh, 38, VP, marketing, convenience distribution. Hildreth, currently the senior VP, finance and treasurer, will focus on designing new sales structures and helping to lead new sales growth. Walsh will focus on advancing and improving procurement processes.

Rider, Hildreth, Walsh and Shapiro will assume their new positions as of February 2003.

"These management appointments are the next logical step in our strategic plan," said chairman and CEO Mark Hansen. "By making these appointments, and preserving our flat organizational structure, we can better capitalize on the depth and experience of our management team. We will also be in a better position to implement our objectives of growing the core business, paying down debt by generating free cash flow and optimizing centralized procurement and the integration of our technology investments," he said.

In November Fleming said the U.S. Securities and Exchange Commission had begun an informal inquiry, including examining several accounting issues.

Fleming has said it would cooperate fully with the SEC.
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