Andy Giancamilli

Retail veteran Andy Giancamilli has been tapped to serve as interim president and chief executive officer of 99 Cents Only Stores.

Giancamilli, who was appointed chairman of the company's board on April 20, replaces Stéphane Gonthier, who has resigned.

Giancamilli brings more than 30 years of experience in leading large retail businesses.

CITY OF COMMERCE, Calif. — Retail veteran Andy Giancamilli has been tapped to serve as interim president and chief executive officer of 99 Cents Only Stores.

Retail veteran Andy Giancamilli has been tapped to serve as interim president and chief executive officer of 99 Cents Only Stores.

Andy Giancamilli

Giancamilli, who was appointed chairman of the company’s board on April 20, replaces Stéphane Gonthier, who has resigned.

"We would like to thank Stéphane for his service. He has been instrumental in leading 99 Cents Only Stores through a transformative period of dynamic change," said David Kaplan, a member of the board and co-founder and senior partner of Ares Management, which acquired the retailer in 2012. "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."

Giancamilli joined 99 Cents Only’s board in 2012.

"In my role on the Board over the past three years and more recently as Chairman, I have gained a deep understanding of the drivers of the 99 Cents Only business and its distinctive and passionate corporate culture," Giancamilli said. "I look forward to working with the members of the senior management team and the board to ensure a smooth transition. Our plan during this time is to continue business as usual while we work to execute on the company’s growth strategies as one of the leading extreme value retailers in the country."

Giancamilli brings more than 30 years of experience in leading large retail businesses. He began his career at Perry Drug Stores Inc. in 1975 and was later president and chief operating officer at Kmart Corp. More recently, he spent more than eight years as president and chief executive officer of Katz Group Canada Ltd.