Bon-Ton Stores Inc. hired the head of the Lord & Taylor department-store chain to be its new chief executive.
Brendan L. Hoffman will join the York-based retailer that operates 276 department stores in 23 states under various regional names, including Elder-Beerman, Carson Pirie Scott and Bon-Ton.
Shares of Bon-Ton rose 13 percent in morning trading, up 42 cents to $3.65.
Hoffman will replace Bud Bergren as president and CEO of Bon-Ton. Bergren will become chairman of the chain, while current executive chairman, Tim Grumbacher, will leave that role but remain on the board.