John Derderian, president and chief operating officer for the last eight years at Allegiance Retail Services, will reduce his responsibilities and transition to a part-time role of principal advisor for retail development and strategic business initiatives for the Iselin, NJ-based retail co-operative, beginning October 1. Industry veteran executive Joe Fantozzi has been appointed interim president by the board of directors. Fantozzi is currently VP-chief financial officer.
In announcing this change, board chairman and CEO Lou Scaduto stated, “We thank John for his years of service and profound accomplishments to successfully position Allegiance to continue to grow both membership and market share into the future. The board and I are very comfortable with naming Joe Fantozzi as interim president, his six years with Allegiance have been marked by improvements in all aspects of the business units he is currently responsible for, and his advocacy on behalf of the membership and understanding of the business is first rate.”
Derderian has spent his entire career working in the grocery industry, beginning with Pathmark in 1975. He remained with Pathmark until 2008, working in many capacities for the former Carteret, NJ regional chain and ultimately rising to the position of executive vice president of business strategy. He then formed Consumer Comprehension LLC, a retail consulting firm, before joining Allegiance/Foodtown in 2012, where he managed marketing, digital marketing, pricing, consumer insights and store operations. In June 2015, Derderian was named president of the Iselin, NJ-based supermarket co-op. In 2016, Derderian spearheaded the Allegiance purchase during the A&P bankruptcy liquidation process of all intellectual property associated with the Pathmark brand, including the Pathmark logo, trademarks and the pathmark.com domain name.
Fantozzi has also spent his career in the grocery business. He began as an entry level employee for wholesale grocer White Rose in 1979. Rising through the ranks at the Carteret, NJ distributor. Hewas named president and COO in 2008. Shortly after White Rose folded in 2014, Fantozzi joined Allegiance as VP-customer development before being promoted to CFO in 2020.
Scaduto will empanel a sub-committee of the board of directors to conduct a search for a permanent replacement, which is expected to be completed by the end of this year.