OPERATIONS

CEO of Claire’s Stores steps down

BY Marianne Wilson

Chicago — Claire’s Stores announced that Eugene S. Kahn has resigned. Kahn has served in the position since the company went private in 2007 in a $3.1 billion takeover by private-equity firm Apollo Management LP.

While the board will conduct a search for internal and external candidates, Claire’s Stores President James G. Conroy and Jay Friedman, president of Claire’s North American Division, will immediately form an interim office of the CEO.

"We thank Gene for his tireless efforts as CEO," chairman Peter P. Copses said in a statement. "Under Gene’s leadership, the Company has improved its merchandising, more clearly defined its target customers, embarked on a new store program in Europe, and launched its e-commerce site. We are fortunate to have a strong and deep team at Claire’s, and are confident in Jim and Jay’s ability to lead the company as the board conducts a search for a new CEO."

Claire’s also reported a 1.5% increase in consolidated same-store sales for November and December, with a 3.9% increase in North America and a 3% decline in Europe. The company operates operated 3,047 stores in North America and Europe, and also has franchised or licensed 381 stores in Japan, the Middle East, Turkey, Russia, Greece, Guatemala, Malta, Ukraine and Mexico.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Claire’s searches for new CEO

BY CSA STAFF

CHICAGO — Claire’s Stores has announced that Eugene Kahn , the company’s CEO, has resigned. The company said its board of directors will conduct a search for a new CEO and will consider both internal and external candidates for this position. In the meantime, James Conroy , president of Claire’s Stores, and Jay Friedman , president of Claire’s North American Division, will form an interim office of the CEO, reporting to the board of directors. All of these management changes are effective immediately.

Peter Copses, chairman of the board of directors, commented, "We thank Gene for his tireless efforts as CEO of Claire’s since the going-private transaction in 2007. Under Gene’s leadership, the company has improved its merchandising, more clearly defined its target customers, embarked on a new store program in Europe , and launched its e-commerce site. We wish Gene well in all his future endeavors. We are fortunate to have a strong and deep team at Claire’s, and are confident in Jim and Jay’s ability to lead the company as the board conducts a search for a new CEO."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

New alpha dog emerges at PetSmart

BY CSA STAFF

PHOENIX— PetSmart CEO Robert Moran has taken on the additional role of chairman of the board, the company announced Friday. Moran has been the company’s president and CEO since 2009, and served as president and COO from 2001 to 2009. Phil Francis, previously executive chairman, will remain a member of the board.

The company also announced that its board of directors hasappointed David Lenhardt as the company’s new president and COO. Lenhardt joined PetSmart as SVP services, strategic planning and business development in October 2000. He was appointed SVP store operations and services in February 2007, and, in February 2009, became the SVP store operations and human resources. In January 2011, he became EVPt, assuming additional responsibility for information systems. Prior to joining PetSmart, Lenhardt worked at Bain & Company Inc., as well as in Merrill Lynch & Co. Inc.’s investment banking division.

The PetSmart board of directors also appointed Lawrence Molloy to the additional position of EVP. Molloy will retain his title and duties as CFO, and has assumed additional responsibility, overseeing the company’s real estate and legal functions.

Joseph O’Leary will continue to serve as the EVP merchandising, marketing, supply chain and strategic planning, reporting to Lenhardt.

“Phil has provided his vision and leadership to PetSmart for 25 years, helping to make it the successful, thriving company it is today,” said Moran. “We’ll always be grateful for his contributions, and are fortunate he will remain an active and valuable member of our board.”

All changes will be effective Jan. 30.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...