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Borders CEO Out Amid Management Changes
January 05, 2009
Ann Arbor, Mich.-based Borders Group has announced several management changes--including the appointment of a new CEO--to more aggressively drive a turnaround of the company within today's economy. Effective today, Ron Marshall, who most recently was principal of Wildridge Capital Management, a private-equity firm he founded about three years ago, has been appointed president and CEO of the company. He also will serve as a director. Marshall replaces George Jones, who served in that same capacity since July 2006. In addition to Marshall's appointment, Mark Bierley has been named CFO and executive vice president of finance. He replaces Ed Wilhelm, who joined Borders Group in 1994 and held the CFO position for the past eight years. Wilhelm will stay on with the company for a transition period. Anne Kubek has been appointed executive vice president of merchandising and marketing. Additionally, Dan Smith has been named to the new position of chief administrative officer. He has been with Borders Group since 1995 in a variety of leadership roles, including his most recent position as executive vice president of human resources.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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