C-SUITE

Charming Charlie makes three key executive appointments

BY Marianne Wilson
Charming Charlie, which emerged from bankruptcy protection in April, has made several changes at the executive level.
Rob Adamek, who has served as the company’s CFO since November 2016 has been promoted to COO. He will have responsibility for functions that provide operational support to stores, e-commerce, merchandising, and marketing.  In addition, he will have responsibility for legal, lease administration, indirect procurement, loss prevention, and facilities,
“Rob has played a critical leadership role through some of the most challenging times we have experienced as a company,” said Lana Krauter, CEO of Charming Charlie.  “He understands the culture of this business and what we are trying to accomplish, not just today, but years down the road.”
In addition, the retailer announced the appointment of Joy Garcia as senior VP and chief marketing officer. She replaces Sheila Field, who has served in the role on an interim basis since February 2018 and is transitioning to the Charming board.
Garcia was previously with Stage Stores where she was group VP of customer and brand marketing. She has also served as the director of marketing for Dell consumer and small business in North and South America, and led customer marketing efforts in a number of roles for Travelocity.
Finally, the company said that Jason Warr, VP of eCommerce, would also oversee the brand’s digital marketing efforts. Warr, who joined Charming Charlie in April 2018, previously spent more than 20 years with Sears, ultimately as a divisional VP and general manager for apparel and online marketing.
Houston-based Charming Charlie operates some 260 U.S. stores. It closed about 100 locations after filing for bankruptcy in December 2017.
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Sears’ new board member brings timely expertise

BY Marianne Wilson

Sears Holdings Corp. has named a board member whose experience may come in handy in the near future.

The struggling retailer announced that Alan J. Carr, managing member and CEO of restructuring advisory firm Drivetrain, has joined its board. Carr has significant experience as a principal, investor and advisor leading complex financial restructurings, as well as serving as a director of reorganized businesses in the U.S. and Europe.

“Alan brings deep experience as a director for companies that went through complex organizational change,” stated Sears CEO Eddie Lampert. “We are pleased to welcome him to the board and look forward to the benefit of his expertise as we work to maximize value for the company and its stakeholders.”

The appointment comes as Sears approaches a key debt payment, and as a special committee to the board is evaluating a proposal from Lampert’s ESL Investments hedge fund that would essentially translate into a wholesale financial restructuring of the company but without a Chapter 11 filing.

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Starbucks taps former Hyatt, Yum! Brands exec as CFO

BY Marianne Wilson

Starbucks Corp. has named a 25-years-plus financial executive to its C-suite.

The coffee giant appointed Patrick Grismer executive VP and CFO.

He succeeds Scott Maw, who will retire on Nov. 30, but remain a senior consultant through March 2019 to ensure a smooth transition. Grismer will join Starbucks on Nov. 12, and assume the CFO role on Nov. 30.

Grismer joins Starbucks from his current position as CFO of Hyatt, which he has held since joining the company in March 2016. Prior to Hyatt, Grismer spent 14 years at Yum! Brands, during which he held a variety of leadership positions at Yum! Brands through14 years, including CFO.

Before Yum! Brands, Grismer served in a number of finance and strategy positions at The Walt Disney Company, including VP of business planning and development for The Disneyland Resort. Grismer began his career as a management consultant with Price Waterhouse.

“As a seasoned CFO of multiple global, consumer-facing growth companies, Pat brings tremendous finance expertise, a customer-centric mindset and a wealth of restaurant industry experience to Starbucks,” said Kevin Johnson, Starbucks president and CEO. “Pat will be a fantastic addition to the team, and I look forward to partnering with him as we continue to execute against our strategic priorities and drive strong financial performance.”

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