99 Cents Only names former Kmart exec as interim president/CEO

City of Commerce, Calif. - 99 Cents Only Stores has named Andrew Giancamilli, chairman of the company’s board of directors, as interim president and CEO, replacing Stéphane Gonthier, who has resigned.



“We would like to thank Stéphane for his service,” said David Kaplan, a member of the board of directors and co-founder and senior partner of Ares Management. “He has been instrumental in leading 99 Cents Only Stores through a transformative period of dynamic change. The board of directors is looking forward to having Andy on the team with our dedicated ‘99ers’ as we continue to expand our unique brand of extreme value.”



A board member since 2012, Giancamilli was appointed as chairman on April 20, 2015. Giancamilli brings more than 30 years of experience leading large retail businesses, He served for more than eight years as president and CEO of Katz Group Canada Ltd., operators of over 1,800 drug stores in Canada. Prior to that, Giancamilli was with Canadian Tire Corporation Ltd. He was also president and COO at Kmart Corp.



99 Cents Only Stores currently operates 384 stores in California, Texas, Arizona and Nevada.