Borders Shops at Saks for New CEO
Borders "is close to naming" as its new CEO George Jones, most recently
CEO of Saks's department-store group--which includes most of the
company's stores but not the Saks Fifth Avenue division--according to
today's Wall Street Journal.
Earlier Jones was president of worldwide licensing and studio stores at Warner Bros.
At Saks, the Journal said, Jones "earned a reputation for promoting innovation." For example, some stores set up "nail bars," where customers could receive 15-minute manicures, and some golf shops installed "putting greens and comfortable leather chairs in front of big-screen televisions showing golf tournaments."
The Journal quoted someone close to the situation as saying Jones views the new post as an opportunity "to do something great."
Early this year (Shelf Awareness, January 23), Borders president, chairman and CEO Greg Josefowicz had announced he would retire within two years and stay as long as needed to make an orderly transition.
CEOs with experience outside the book industry has become something of a tradition at Borders. Josefowicz joined the company in 1999 after spending his entire career at that point with Jewel-Osco, working his way up through the ranks to become president of the grocery and drugstore company.
Josefowicz's predecessor, Bob DiRomualdo, was president and CEO of Hickory Farms, the food store chain, before joining Borders and had earlier worked at Acme Markets and Little General Stores.
At Saks, the Journal said, Jones "earned a reputation for promoting innovation." For example, some stores set up "nail bars," where customers could receive 15-minute manicures, and some golf shops installed "putting greens and comfortable leather chairs in front of big-screen televisions showing golf tournaments."
The Journal quoted someone close to the situation as saying Jones views the new post as an opportunity "to do something great."
Early this year (Shelf Awareness, January 23), Borders president, chairman and CEO Greg Josefowicz had announced he would retire within two years and stay as long as needed to make an orderly transition.
CEOs with experience outside the book industry has become something of a tradition at Borders. Josefowicz joined the company in 1999 after spending his entire career at that point with Jewel-Osco, working his way up through the ranks to become president of the grocery and drugstore company.
Josefowicz's predecessor, Bob DiRomualdo, was president and CEO of Hickory Farms, the food store chain, before joining Borders and had earlier worked at Acme Markets and Little General Stores.