OPERATIONS

Wells Fargo Capital Finance hires managing director retail finance

BY CSA STAFF

San Francisco Wells Fargo Capital Finance, part of Wells Fargo & Co., has hired Keith Vercauteren as the managing director of its Retail Finance division.

Based in Boston, Vercauteren is responsible for managing the new business and underwriting processes. He works with the national sales force of Wells Fargo Capital Finance to structure and close asset-based credit facilities that are tailored to the needs of traditional, catalog, and online retailers.

Vercauteren has more than 11 years of experience in managing and underwriting asset-based loans. Most recently, we worked for Bank of America Merrill Lynch, where he was a managing director. He has also held positions with FleetBoston, BankBoston and Filene’s.

Vercauteren earned a bachelor’s degree from University of Massachusetts and a master’s in business administration at Babson College. He is a member of the Commercial Finance Association and the Turnaround Management Association.

 

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OPERATIONS

Zales shakes up management

BY CSA STAFF

Dallas Struggling retailer Zale Corp. said Wednesday its CEO Neal Goldberg and other executives have left the company. The retailer said that in addition to Goldberg, chief merchandising officer Mary Kwan and chief stores officer William Acevedo have also quit, effective immediately.

President Theo Killion will now also serve as interim CEO of Zale, which operates Zales.com and about 1900 Zales jewelry stores in the United States, Canada and Puerto Rico.

Chief stores officer William Acevedo and chief merchandising officer Mary Kwan also left the company.

Gil Hollander, executive VP and chief sourcing and supply chain officer, has assumed the additional role of chief merchandising officer.

The company did not say why the management changes were made, but said they will “help facilitate renewed focus on Zale’s core diamond business.”

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OPERATIONS

Gap appoints CIO

BY CSA STAFF

San Francisco Gap announced that Tom Keiser joined the company as executive VP and CIO. In this role, Keiser will lead the strategy to improve the business effectiveness of Gap’s global technology platform that spans brand, product and corporate employee systems.

Keiser most recently served as executive VP and CIO for Limited Brands, where he spearheaded a multi-year, transformational program to build a new business and technology operating model that supported both current and future business needs.

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