Federated Merchandising announces changes in senior-level management responsibilities.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY--(BUSINESS WIRE)--December 12, 1994--Federated Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , Inc. today announced several management and organizational changes affecting senior executives at its New York-based Federated Connected and treated as one. See federated database and federated directories. Merchandising (FM) division, which after Federated's merger with R.H. Macy & Co., Inc. also will include the Macy's Product Development function. Effective January 1, Tom Cole, president of FM, will relinquish his duties at FM to become president of Federated Logistics, a newly created corporate support division responsible for merchandising distribution and logistics functions. In his new capacity, Cole, who has been president of FM since June1988, will report to Federated President James M. Zimmerman; he will have direct line responsibility for the distribution functions of Macy's East, Bloomingdale's and Stern's, and distribution/logistics policy responsibilities for the total company. Cole had assumed responsibility for logistics for the company, in addition to his FM responsibilities, in May 1993. With the impending im·pend intr.v. im·pend·ed, im·pend·ing, im·pends 1. To be about to occur: Her retirement is impending. 2. Federated/Macy's merger and the increased size of the company, Federated said it now is necessary to separate merchandising distribution and logistics responsibilities from FM, and to create a new support function dedicated to that purpose. Also effective January 1, Terry J. Lundgren Terry J. Lundgren (b. 1952) is the CEO, Chairman of the Board, President, and Director at Macy's, Inc., the parent company of Macy*s and Bloomingdale's department stores. Lundgren is also the namesake of the Terry J. , FM's chairman and chief executive officer, said the following changes in senior-level responsibilities will take place at FM: o W. Jay Carothers, vice chairman of Macy's Product Development (MPD MPD maximum permissible dose. MPD abbr. 1. maximal permissible dose 2. multiple personality disorder Multiple personality disorder (MPD) ) since February 1992, will become president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of FM and MPD. In his new capacity, Carothers will add responsibility for finance and operations at FM to his existing MPD responsibilities. He will report jointly to Lundgren and to Richard Crystal, chairman of MPD, who also reports to Lundgren. o James Andress, senior vice president for human resources and administration at FM, will add responsibility for merchandise information systems to his current responsibility for coordinating human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. policy and staffing for merchants across Federated. In his new position as FM's executive vice president for human resources, merchandise information and video communications, Andress will report to Lundgren. o Peggy Ward, currently FM's vice president for human resources and operations, has been named vice president of facilities management The management of a user's computer installation by an outside organization. All operations including systems, programming and the datacenter can be performed by the facilities management organization on the user's premises. for both FM and MPD. In this new capacity, Ward will report to Carothers; staff functions responsible for compensation, benefits and support staffing, which previously reported to Ward, now will report to Andress. "We believe this new alignment of senior-level staff responsibilities at FM will be most effective for the needs of the combined Federated and Macy's organizations," Lundgren said. "In addition, Tom Cole, who has done an outstanding job for FM over the last six years, will be a tremendous asset to the total company as he is able to focus full time on the corporation's needs in the areas of merchandising distribution and logistics." Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales of more than $7.2 billion. Federated currently operates 236 department stores in 26 states under the names of Abraham & Straus, Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Jordan Marsh Jordan Marsh was the name of a Boston, Massachusetts-based department store. Founded in 1841 and eventually part of Allied Stores and then Federated Department Stores; in 1996, the last of the Jordan Marsh stores were renamed Macy's. , Lazarus, Rich's and Stern's. Federated's merger with Macy's is expected to take effect later this month. CONTACT: Federated Department Stores, Inc., Cincinnati
Media - Carol Sanger, 513/579-7764
Investor - Susan Robinson, 513/579- 7780
|
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion