Neiman Marcus CEO Renews Contract
Neiman Marcus Group Inc. CEO Burton M. Tansky has renewed his contract for another two years. The contract, which was set to expire in October 2008, has been extended to October 2010, according to a report on WWD.com.
The contract provides that Tansky’s employment will automatically be extended for one-year periods after the term of the agreement expires unless, at least six months prior to the commencement of any one period, Tansky or the board decides it’s time for him to retire. A Securities and Exchange Commission filing, which disclosed the contract renewal, lists Tansky’s base salary at $1.3 million, the report said.
Last October, the Neiman Marcus Group formed an office of the chairman, throwing the spotlight on two veteran officials, Karen Katz and James Skinner, as leading contenders to one day succeed Tansky.
Katz is president and CEO of the Neiman Marcus Stores division. As part of the chairman’s office, she has the additional role of executive VP of the group, entailing responsibilities for strategy, business development and marketing.
Skinner, senior VP and CFO, is included in the office of the chairman. He is also executive VP and CFO of the group, with responsibility for information services.
Tansky, who has been at the helm of the high-end retailer since the early 1990s, also serves as chairman and president of the corporation.
Best Buy Names Exec VP
Minneapolis Best Buy announced that John Pershing has been named executive VP of human capital for the corporation.
Pershing will be in charge of recruiting, training, employee relations and employee development for about 140,000 employees at Best Buy’s operations around the world. The company’s legal department also will report to him.
Pershing joined Best Buy in 1989 as a retail manager and steadily advanced to positions of increasing responsibility.
Talbots Names Senior VP, Merchandising Planning
Hingham, Mass. The Talbots, Inc. announced the appointment of Jeannie Barsam as senior VP, merchandising planning and analysis for the Talbots brand.
Barsam joins Talbots with more than 25 years of merchandising and planning expertise in the specialty-retail sector, which includes most recently serving as VP of inventory management at Old Navy, a division of Gap, Inc.