Christopher & Banks CEO resigns; chief merchant out
Minneapolis — Christopher & Banks said Tuesday that its CEO Lorna Nagler has “resigned all positions with the company to pursue other interests” of Larry Barenbaum will serve as interim CEO while the company searches for a permanent top executive. He will continue in his role as chairman.
Christopher & Banks also said that effective immediately, chief merchandise officer Susan Connell is no longer with the retailer. Jules Rouse, who was general merchandise manager until 2008, will return to that position.
Nagler was hired as chief executive in August 2007 after serving as president of Lane Bryant. Connell, who had been general merchandising manager at Lane Bryant, joined Christopher & Banks as chief merchandising officer a couple months before Nagler arrived.
Nagler’s departure comes about three months after the company’s CFO Rodney Carter resigned.
Last month, Christopher & Banks reported its fiscal second-quarter loss widened as shoppers responded tepidly to new merchandise late in the quarter. Results for the company, which targets mostly women over 40 with above-average incomes, fell short of analysts’ expectations.
Sears offers new payment option
Hoffman Estates, Ill. Sears today announced a new payment option to its existing suite of financing solutions: the Sears Monthly Payment Plan.
The new plan offers a more controlled form of borrowing for shoppers who want to avoid unexpected finance charges. With a low APR and a fixed monthly payment over 48 months, the Sears Monthly Payment Plan allows shoppers to buy what they need and still manage within their budget.
“We recognize the importance of offering customers a wide selection of payment options at the checkout,” said Susan Ehrlich, president, Financial Services, Sears Holdings. “Our customers are still very mindful of how they are managing their spending and continue to look for ways to maximize their budgets. The monthly payment plan is a smart shopping solution that makes it more affordable for customers to pay for large purchases.”
Sears will launch a national marketing campaign through this holiday season to raise awareness of this new offering, including placement in circular advertising and a television commercial.
Sudhoff to lead Henkel Consumer Goods
Scottsdale, Ariz. Henkel AG & Co. KGaA, located in Dusseldorf, Germany, announced that Stefan Sudhoff, corporate SVP Cosmetics/Toiletries at Henkel, has been appointed to lead Henkel Consumer Goods. Stefan Sudhoff succeeds Georg Baratta.
Sudhoff has been working with Henkel Cosmetics in various positions for almost 25 years. In addition to his responsibility for the Body Care strategic business unit and the Latin America and Central & Eastern Europe regions, he has also been responsible for the strategic steering of the North American Henkel Cosmetics business since 2006.
Henkel Consumer Goods is headquartered in Scottsdale, Ariz., and markets a wide range of consumer brands including Dial soaps, Purex laundry detergents, Renuzit air fresheners and Right Guard antiperspirants. Henkel purchased The Dial Corp., located in Scottsdale, in 2004.