Veteran Retailer Len Williams Takes Pic ‘N’ Save Reins

Pledging to return a bargain-basement flavor to Pic ‘N’ Save discount stores, veteran retailing executive Len Williams on Tuesday assumed the post of president and chief executive officer of the Dominguez-based retailer.

His selection Monday ended months of pressure by dissident shareholders to replace Lewis B. Merrifield III, who at one time was chairman, president and chief executive. Arthur Frankel, who replaced Merrifield as chairman for four months, resigned last week. He was succeeded by Peter S. Willmott, former chairman, president and chief executive of Carson, Pirie Scott & Co.

“I’m a hard-core merchant,” Williams said. “In a bargain-oriented store, impulse creates business, and mass creates impulse.”

Williams, former president of Caldor, a division of Associated Dry Goods, and former chief executive of Gold Circle, a division of Federated Stores, was elected unanimously, according to board member David Batchelder, who heads the La Jolla investment group that pushed for Merrifield’s ouster.

Williams, 53, reported for work at 7:30 a.m. Tuesday and immediately launched plans to woo back shoppers who considered the messy, jumbled stores a bargain-hunter’s paradise. Under Merrifield’s guidance, management had organized the merchandise and tidied up the stores, which critics and some shareholders said hurt sales.

“I want to make the merchandise accessible and the stores really full,” said Williams. He said the stores reported very strong Halloween sales and predicts that business will pick up as shoppers try to stretch their holiday dollars.

Williams, who will be moving to Southern California from Westport, Conn., said he will be earning less than the $975,000 that Merrifield received.

“I’ll be at a more market-related, realistic salary,” he said.