Peapod names new CEO

Internet grocer Peapod Inc. (Nasdaq: PPOD) said Monday it had named Bill Malloy, an executive vice president for AT&T's (NYSE: T) wireless business, as president and chief executive officer and as a member of its board.

Andrew Parkinson, co-founder of Peapod and its current chairman, president and CEO, will continue as chairman of the company and will focus on long-term strategy and business development at Peapod, the company said.

Malloy was one of the key architects of the AT&T Digital One Rate strategy, which was launched in May of 1998, and has delivered record breaking revenue growth for AT&T Wireless, Peapod said.

Its shares closed off 5/16 to 8 ahead of the announcement.

The stock hit a 52-week high of 15 11/16 in April after bottoming out at 2 11/16 in October.

Four of the six analysts following the stock maintain either a "buy" or "strong buy" recommendation.

Reuters contributed to this report. >