FACTORY STORES OF AMERICA, INC. NAMES CHIEF FINANCIAL OFFICER.SMITHFIELD, N.C.--(BUSINESS WIRE)--Sept. 27, 1995--Factory Stores of America, Inc. (NYSE NYSE See: New York Stock Exchange :FAC FAC - Functional Array Calculator. An APL-like language, but purely functional and lazy. It allows infinite arrays. ["FAC: A Functional APL Language", H.-C. Tu and A.J. Perlis, IEEE Trans Soft Eng 3(1):36-45 (Jan 1986)]. ) today announced the appointment of John N. Nelli as chief financial officer. Nelli succeeds David A. Hodson who has served as both president and CFO. As CFO, Nelli will be responsible for all finance, regulatory and administrative functions. He will report to Hodson, who remains president of the Company. "John has been a valuable member of our management team since the beginning of the year and we are pleased that he is ready and willing to take on the additional responsibilities of the CFO position," said J. Dixon Fleming, Jr., chairman and chief executive officer. "As we move forward with our planned acquisition of the outlet center properties owned by The Public Employees Retirement System of Ohio and the merger with Charter Oak Group, this management change positions David to take on his new responsibilities as vice chairman of the combined company." Prior to joining Factory Stores, Nelli was chief financial officer and secretary of Litchfield Theatres in South Carolina. He previously was interim president and director of Natter Manufacturing in West Jordan, Utah West Jordan is a city and a suburb of Salt Lake City in the U.S. state of Utah. West Jordan is a rapidly growing suburb of Salt Lake City, with a balanced housing stock, quality commercial districts and a strong industrial base. ; he originally joined the company as CFO. Nelli began his career with Touche Ross & Co. where he was an accounting manager. A Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. , Nelli is a graduate of Appalachian State University History Appalachian State University began in the summer of 1899 when a group of citizens of Watauga County, NC, under the leadership of D.D. Dougherty and B.B. Dougherty, began a movement to establish a good school in Boone, NC. Land was donated by D.B. and holds a Masters of Accountancy from Virginia Polytechnical Institute. Factory Stores of America, a self-administered real estate investment trust, is a leading factory outlet REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). in terms of numbers of centers and square footage. Headquartered in Smithfield, the Factory Stores' portfolio at June 30, 1995, included 35 outlet centers in operation totaling 4.3 million square feet of gross leasable area Gross leasable area (GLA) in the retail development industry is a term applied to shopping malls, lifestyle centers, outlet malls and other retail centers to indicate the amount of floor space available to be rented. in 21 states; a 281,000 square foot center under development in Branson, Missouri; and planned expansions of 177,000 square feet. CONTACT: Factory Stores of America Inc., Smithfield J. Dixon Fleming, Jr., 919/934-9446 |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion