It’s not easy keeping up with the comings and goings of retail executives these days. Every day seems to bring a change at -- or near -- the top. Hot-off-the-wire is the news that David Campisi, president and CEO of Sports Authority president and CEO, has suddenly resigned after just 17 months in the position. He will be replaced on an interim president by Darrell Webb, currently chairman and CEO of Jo-Ann Stores!
In other recent announcements, Terrance Marks, CEO of The Pantry and architect of the chain’s turnaround strategy, is stepping down to take a position in Atlanta. Also, Mark Cosby, former president of stores at Macy’s, has been named president of CVS/pharmacy.
According to The Street.com, to date in 2011, there have been more than two dozen changes in the executive ranks at publicly held retail companies. While all those moves did not generate the headlines that Ron Johnson did when it was revealed he was swapping Apple for J.C. Penney, they do reflect a trend that many analysts have seen coming for a while.
"I believe heads will roll in the retail and consumer discretionary sector this year, with the boards of directors re-evaluating if the present management team, starting with the CEO, is best fit to steer the publicly traded ship in the new realities of doing business," Wall Street Strategies analyst, Brian Sozzi wrote in a note that was published in March.
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