Dart selects younger Haft as president, CEO

August 03, 1993|By Bloomberg Business News

LANDOVER -- Dart Group Corp.'s board elected Ronald S. Haft president and chief operating officer yesterday, two months after his older brother was ousted from those positions.

Herbert H. Haft, 72, forced his older son, Robert Haft, 40, out of the family-controlled companies, including Dart, Crown Books Corp. and Trak Auto Corp., in June.

Herbert Haft, Dart's chairman and controlling shareholder, named Ronald Haft, 34, to the company's board July 29.

Herbert Haft removed his wife, Gloria, and his son Robert Haft from Dart's board in early June. At that time, two other directors, Claudine Malone and John Leonard, decided not to stand for re-election because they disagreed with Herbert Haft over the company's direction.

Ronald Haft hasn't announced his strategy for the company yet, said Stanley Rubenstein, a company spokesman. But Mr. Rubenstein said he expected Ronald Haft to discuss Dart's future in the next few weeks.

Ronald Haft has been president of Combined Properties Inc., the owner and manager of 37 shopping centers in the Washington area and California. Before that, he worked with Prudential Bache's real-estate division and other real-estate firms.

"Ronald Haft has an extraordinary track record in the retail industry," Herbert Haft said in a statement.

Dart owns 51 percent of book retailer Crown and 66 percent of Trak Auto car-part shops, both of which are public companies. It also owns 50 percent of closely held Shopper's Food Warehouse, all of Cabot-Morgan, which owns several shopping centers managed by Combined Properties, and Dart Financial Group.

Dart's shares closed up $1, at $82.50, yesterday.

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