REAL ESTATE

Developers Diversified names interim CFO

BY CSA STAFF

Beachwood, Ohio Developers Diversified Realty Corp. announced late Tuesday that it has named David J. Oakes as interim CFO of the company, replacing William H. Schafer who is departing effective Feb. 15.

According to the company, a search for a permanent replacement is ongoing. Schafer’s departure is not related to Developers Diversified’s financial or operating results, nor to any disagreements or concerns regarding the company’s financial or reporting practices, according to president and CEO Daniel B. Hurwitz.

Oakes will serve as interim CFO in addition to his regular duties as senior executive VP finance and CIO. He has been with the company since 2007 and has served in increasing roles of responsibility.

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Borders chief resigns

BY CSA STAFF

ANN ARBOR, Mich. Borders announced that Ron Marshall has resigned as president, CEO and a director of the company, effective immediately, to accept the role of CEO at another retailer.

The company has named EVP and chief merchandising officer Michael Edwards as the interim CEO.  Edwards is a 26-year retail veteran with CEO experience who joined Borders in September 2009 and has been leading the merchandising and marketing teams.  

“We have a clear commitment to drive the top line at Borders Group and there will be no interruption of our strategic plans and efforts to focus with great energy and determination on this goal during the transition,” said Edwards.

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Jo-Ann joins ArtFire to help artisans sell their wares

BY CSA STAFF

HUDSON, Ohio Jo-Ann Fabric and Craft Stores announced that it has partnered with ArtFire, an online artisan community, to provide sewers and crafters with the tools they need to create and sell their goods.

“By partnering with ArtFire, Jo-Ann is able to provide sewers and crafters all the tools they need to make and sell their products,” said Riddi Kline, SVP marketing, at Jo-Ann Fabric and Craft Stores. “In stores and online at Joann.com, customers can shop for all their materials and find inspiration for projects. Cards and gift wrap in our stores complete the process for those creating handcrafted gifts, and now, those customers who sell their creations can do so through the Jo-Ann community at ArtFire.com.”

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