Sycamore completes acquisition of Talbots; appoints former Vitamin Shoppe executive as CEO
Hingham, Mass. — Private equity firm Sycamore Partners, which has wrapped up its $391 million acquisition of The Talbots, appointed Michael Archbold, formerly president and COO of Vitamin Shoppe, as CEO and CFO of Talbots. Archbold, who also served as executive VP and CFO of Saks Fifth Avenue, replaces Trudy Sullivan, who resigned from the CEO’s job after Sycamore completed its acquisition of Talbots late last week.
“Talbots is a classic, American fashion retail brand with a strong foundation and an iconic reputation in women’s retail," Archbold stated. "By restoring the company’s focus on Talbots’ classic styling, we will be able to reconnect with the company’s historical customer base.
Sycamore also announced that Lizanne Kindler, previously executive VP of product development at Kohl’s, has been named president.
Michele Mandell, who previously served as executive VP of stores at Talbots, has rejoined the company as COO. She retired from the chain in 2008.
Talbots’ headquarters will remain in Hingham, Mass.
“We will restore the Talbots brand and the company’s heritage as a leading retailer of traditional women’s apparel, shoes and accessories,” said Stefan Kaluzny, a managing director of Sycamore Partners.
Payment systems provider names EVP global markets
NAPLES, Fla. — ACI Worldwide, an international provider of payment systems, has named Daniel Frate as EVP global markets and product management.
Frate most recently served as EVP and head of products and pricing at PNC Bank. Building on ACI’s product leadership position, Frate will be charged with delivering customer satisfaction through tight alignment of product roadmaps with market needs. He will be based out of the company’s Naples, Florida headquarters.
"Dan has a keen appreciation of the customer’s perspective and is an excellent addition to the executive team," said Philip Heasley, president and CEO, ACI Worldwide. "With oversight of the sales and services functions as well as product management, Dan will ensure that we continue to meet our customers’ needs by delivering market-leading solutions."
David Morem, currently EVP, Global Products and a senior ACI executive since 2006, will transition to the role of EVP global maintenance. He will lead the product maintenance and customer support operations for the company, and will be responsible for delivering world class support for all ACI products, a key aspect of the company’s priority on customer satisfaction.
The company also announced that Ralph Dangelmaier, EVP, global markets, will be leaving ACI to head a privately-held company. Dangelmaier joined ACI through its 2006 acquisition of P&H Solutions.
Espirit names new Group CEO
HONG KONG — Esprit Holdings Limited has appointed Jose Manuel Martínez Gutiérrez as its new Group CEO and executive director, effective on or before the end of September.
"We are delighted that Martínez, a professional with a wealth of experience in global retailing, has joined Esprit as our new group CEO, and the successor to Ronald Van Der Vis," said Raymond Or, non-executive chairman of Esprit. "Mr. Martínez has a track record of outstanding leadership that will be critical to executing Esprit’s transformation plan. He is passionate about continuing the work to revitalize Esprit’s brand, and brings with him a unique perspective built from within the fashion retailing business, and during his many years as a consultant to our industry."
Martínez has previously held various senior positions at Inditex, having most recently held the position of group director of distribution and operations where he executed a commercial distribution model and strategy that was a key factor in delivering consistent positive growth for the retailer over several consecutive seasons. Prior to this role, he was the country manager for the Zara brand across Scandinavia, where he had top and bottom line accountability. Before joining Inditex, Martínez spent eight years at McKinsey & Company where he led the firm’s retail and consumer goods practice in Spain.