Lynn Named President of Price Co.

Mitchell G. Lynn, 42, has been named president of Price Co., the San Diego-based chain of membership discount warehouses.

Price Co. stock closed down $1.375 to $36.875 in over the counter trading Monday but retail analyst Sarah Stack of Bateman Eichler, Hill Richards in Los Angeles discounted a “link between the news announcement and the stock price decline.”

Noting that Costco fell by $.75 and that May Co. was down $1 in Monday trading, Stack said other retail stocks declined on Monday, possibly a result of the segment being “overvalued” on the whole.

Lynn has held a variety of posts within Price Co. since joining the company as controller in 1979. Most recently, he was president of Price Club Industries, which includes the chain’s photo processing, optical services, food packaging and other warehouse operations.

A certified public accountant, Lynn is a graduate of UCLA. He replaces Robert Price, who will continue to be Price Co. chief executive and board chairman. Lynn will be given a seat on Price’s board of directors after the annual shareholders meeting next month, the company said.