Liz Claiborne to change name to Fifth & Pacific Co.
New York City — Liz Claiborne Inc. said Wednesday that it will change its name to Fifth & Pacific Cos., effective May 15, to reflect the divestiture of its namesake brand as well as a newly honed focus on its core banners.
The owner of Juicy Couture, Kate Spade and Lucky Brand agreed last October to sell its Liz Claiborne and Monet brands to J.C. Penney Co. for $267.5 million in a move to reduce debt. It also sold its Dana Buchman brand to Kohl’s Corp.
"While it’s difficult to replace an iconic name like Liz Claiborne, we believe that Fifth & Pacific Cos. telegraphs who we are today — taking inspiration from New York and California, while describing our reach and our potential," said William L. McComb, CEO.
TJX Cos. announces senior management shifts
Framingham, Mass. — The TJX Cos. announced Wednesday several senior management shifts, including moving current Marmaxx Group head Michael MacMillan to the company’s European division.
MacMillan, who has been in charge of the company’s largest division comprised of T.J. Maxx and Marshalls, will now be senior executive VP of TJX Europe. MacMillan replaces Paul Sweetenham, who recently resigned.
The current president of HomeGoods, Richard Sherr, will return to Marmaxx Group as senior executive VP.
The company said that Ernie Herrman will continue as TJX president, a title he assumed in February 2011, and will continue to report to Carol Meyrowitz, CEO of The TJX Cos.
Jeffrey Naylor, senior executive VP, CFO and chief administrative officer, will continue in his current role, as will Nan Stutz, senior executive VP, group president with responsibility for TJX Canada and HomeGoods.
Vitamin Shoppe president joins Express board
Columbus, Ohio — Express has announced changes to its board of directors. Michael Archbold, president and COO of Vitamin Shoppe, has been appointed to the board as a class I director, effective Jan. 3.
Archbold joined Vitamin Shoppe in 2007 as CFO and COO. He was promoted to president in 2011. Previously, he was executive VP, CFO and chief administrative officer of Saks Fifth Avenue.
Archbold will also serve on the company’s audit committee, replacing Stefan Kaluzny, co-founder of Sycamore Partners, who resigned in late 2011. His appointment brings Express back into compliance with the New York Stock Exchange’s listing rule that requires three independent directors on its audit committee.