Search Directorship.com for:
Top Tags:
accounting & audit board administration calpers ceo ceo succession compensation corporate governance credit crisis director news executive compensation korean investment corp. kuwait investment authority merrill lynch mizuho corporate bank of japan proxy say on pay sec shareholders strategy & leadership
The Directorship Boardroom & Economic ForumTo register for the annual global gathering of leading board directors and corporate governance influentials click here.
September 30, 2008 Lord & Taylor Replaces CEO Before HolidaysLord & Taylor’s longtime CEO, Jane Elfers, is leaving amid a shift in strategy just before the holiday season, according to The Wall Street Journal.
Elfers was CEO for nine years and Women’s Wear Daily reported that she will be replaced by Brendan Hoffman, the 40-year-old CEO of Neiman Marcus Direct.
The move comes after the 47-store chain has seen a consistent decrease in sales as consumers have cut back on retail purchases of luxury goods. Lord & Taylor’s owner, NRDC Equity Partners, hopes to cut costs by merging the back-office operations of its retail brands.
NRDC bought Lord & Taylor for $1.2 billion in 2006 and The Bay, a Canadian department-store chain and created Hudson’s Bay Trading. Hoffman will report to Jeffrey Sherman, CEO of Hudson’s Bay. Tags: lord & taylor (1) jane elfers (1) brendan hoffman (1) hudson bay (1) nrdc (1) buyout (6) retail slump (1) (322)
|
        
 
|
