Mervyns President Steps Down
San Francisco, Rick Leto has resigned as president and chief merchandising officer of Mervyns LLC, effective immediately, the company said Tuesday.
No reason was given for Leto’s departure, but in the announcement a Mervyns board member, Thomas Taylor, thanked him for three years’ service to the company as it changed from a public to a private retailer.
Taylor will lead the search for a new president, which he said he hoped to complete quickly. Mervyns CFO, Chuck Kurth, will serve as interim president.
The Limited retains LP for loss prevention
MILFORD, Mass. The Limited and LP Innovations have reached an agreement under which LP will provide loss prevention services for all of The Limited Stores nationwide.
“During our search for a nationwide loss prevention solution provider, we consistently received positive feedback from similar retailers already utilizing LP Innovations,” said Tracey French, cfi and director of loss prevention for The Limited. “We look forward to leveraging LP Innovations’ talent base and practices to prevent shrink and increase profit.”
Michael Foods reports executive changes
MINNETONKA, Minn. Michael Foods announced that it has appointed several officers to new positions effective Jan. 1, 2008.
Gregg Ostrander is named executive chairman of the board of directors. Hejoined Michael Foods in 1993 and has served as ceo since 1994, also serving as chairman since 2001. He was also president for most of the period since 1994.
John Reedy is named a vice chairman. Reedy has served as cfo since 1988 and has been evp since 2000.
David Johnson is named ceo. He joined Michael Foods in April as president, coo and ceo-elect. He remains president. He has also been elected to the board of directors effective Jan. 1, 2008.
Mark Westphal is named cfo. He has served as senior vp of finance since 2006 and has served in various financial positions within Michael Foods since 1995. He remains a Senior Vice President.