Henschel-Steinau, Inc. Announces Sale to Employee Investor Group, President/CEO, and Executive VP of Creative Services Named
Henschel-Steinau, Inc., a premier designer and manufacturer of in-store displays and merchandising, recently announced that the 49-year-old firm has been sold to a group of eleven employee investors. The announcement was made today by H. Aaron Henschel, Henschel-Steinau President/CEO.
“Many of the employees who have helped make Henschel-Steinau one of the most respected names in the point-of-purchase advertising industry now hold a piece of equity in the company, ensuring that the organization will continue to thrive and grow for the next fifty years and beyond,” said Henschel in making the announcement today. “The group of eleven employees, who now own shares of the company, represents a wide range of expertise from sales to design and production.”
Effective immediately, Gary Forman has been named president/CEO of Henschel-Steinau. Forman, who joined Henschel-Steinau more than 35 years ago, was most recently executive VP of sales and resides in New City, N.Y.
Michael Luberto has been named Executive VP of creative services. Luberto joined the firm more than 25 years ago in the design department and was most recently VP/creative director.
Effective with the sale, Henschel will step down as president/CEO, a position he’s held since 1970 to consult on strategic business-development initiatives including the growth of the successful patent-pending EZ Load shelf-management system.
Hudson’s Bay Names New CEO
New York City A report on Tuesday in the New York Post said Canadian retailer Hudson’s Bay has hired Bonnie Brooks away from Hong Kong-based luxury chain Lane Crawford to run its department store business.
The appointment follows the Hudson’s Bay buyout last month by Purchase, N.Y.-based private-equity fund NRDC. In addition to The Bay, Hudson’s Bay operates the Zellers, Home Outfitters and Fields chains.
Bon-Ton CEO Gets Extension
York, Pa. Bon-Ton Stores announced Tuesday that Byron L. “Bud” Bergren will continue to serve as president and CEO of the department-store chain until Feb. 5, 2010. He was previously expected to serve as president and CEO through Jan. 31.
“Our board has been very pleased with Bud’s vision, leadership and execution since he joined Bon-Ton five years ago, and, therefore, we have requested Bud continue as president and chief executive officer,” said Tim Grumbacher, executive chairman of the board.