Tag Archives: EVP and CFO

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Gap Inc. announces the appointment of Teri List-Stoll as EVP and CFO effective January 17, 2017

SAN FRANCISCO, 2016-Nov-17 — /EPR Retail News/ — Gap Inc. (NYSE: GPS) today (November 15, 2016) announced the appointment of Teri List-Stoll as executive vice president and chief financial officer, effective January 17, 2017. List-Stoll will report to Gap Inc. chief executive officer Art Peck and will serve on the company’s senior leadership team.

“Teri is a seasoned finance leader with more than three decades experience, including top leadership positions at global consumer goods companies,” said Art Peck, chief executive officer, Gap Inc. “As we remain focused on accelerating our transformation, Teri’s expertise will help us drive our long-term financial objectives and continue our commitment to long-term shareholder value.”

List-Stoll will succeed Sabrina Simmons, whose departure was previously announced on November 2, 2016, and will have oversight of the company’s global finance function, as well as loss prevention and corporate administration divisions. Once List-Stoll joins Gap Inc. in mid-January, Simmons will shift into an advisory role through the end of the company’s fiscal year.

“I have tremendous respect for the brands in Gap Inc.’s global portfolio, and I am excited to join the company during a time of transformative change,” said List-Stoll. “I look forward to continuing Gap Inc.’s commitment to a strong balance sheet and operating discipline and supporting the company’s long-term growth strategy.”

Most recently, List-Stoll held the position of executive vice president and chief financial officer for Dick’s Sporting Goods, Inc.  Previously, she served in senior finance roles, including chief financial officer for Kraft Foods Group, Inc.  List-Stoll spent almost two decades growing her career at The Procter & Gamble Company, where she ultimately served as senior vice president and treasurer. She began her career at Deloitte & Touche LLP.

List-Stoll serves on the board of directors and audit committees for Microsoft and Danaher. She received her B.A. in Business Administration from Northern Michigan University and is a Certified Public Accountant.

About Gap Inc.

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brands. Fiscal year 2015 net sales were $15.8 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,300 company-operated stores, about 450 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

Investor information:

investor_relations@gap.com
650-952-4400

Source: Gap Inc.

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Gap Inc. EVP and CFO Sabrina Simmons to leave the company

SAN FRANCISCO, 2016-Nov-05 — /EPR Retail News/ — Gap Inc. (NYSE: GPS) today (November 2, 2016) announced that executive vice president and chief financial officer Sabrina Simmons will be leaving the company. Simmons will remain with Gap Inc. through the end of the 2016 fiscal year, ensuring a seamless transition over the coming months.

“Throughout her 15-year tenure, Sabrina has been one of our most passionate and respected leaders. She was critical in establishing Gap Inc.’s capital structure framework and maintaining operating discipline across the enterprise, both of which have delivered significant value to our shareholders,” said Art Peck, chief executive officer of Gap Inc.

“Since I assumed the CEO role two years ago, Sabrina has been an instrumental partner in helping the company transition to a new leadership team. With that period of transition behind us, Sabrina and I agreed that this was an appropriate time for a change in the organization and for her to pursue the next chapter in her career. Sabrina and I will work together to ensure an orderly transition in the coming months. Most of all, I am grateful for her partnership and for all that Sabrina has contributed to Gap Inc.,” Peck added.

Simmons said, “I feel very fortunate to have spent a meaningful part of my career at Gap Inc., and I’ll always be grateful to the Fisher family, to my colleagues, and to my team for the opportunities I’ve had with the company.”

Since joining Gap Inc. in 2001, Simmons has progressed through positions of increasing responsibility from vice president and treasurer to executive vice president. Simmons has served as the company’s CFO since late 2007. Most recently, her responsibilities have included all global financial functions, including corporate and brand financial planning and analysis, treasury, risk management, tax, investor relations, controllership, corporate shared service centers, and internal audit, in addition to real estate, loss prevention, and corporate facilities.

About Gap Inc.

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brands. Fiscal year 2015 net sales were $15.8 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,300 company-operated stores, about 450 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

Investor information:

investor_relations@gap.com
650-952-4400

Source: Gap Inc.

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Nordstrom’s EVP and CFO Mike Koppel to retire in spring 2017

SEATTLE, 2016-Oct-27 — /EPR Retail News/ — Nordstrom announced today (Oct. 24, 2016) that Executive Vice President and Chief Financial Officer Mike Koppel has shared his plans to retire from the company in spring 2017. Koppel will remain in his role until then to support the search for a new CFO and assist with his successor’s transition. Koppel joined Nordstrom in 1999 and has been the company’s Chief Financial Officer since 2001.

“We are extremely grateful for all of the contributions Mike has made over his 17 years as a leader at Nordstrom,” said Blake Nordstrom, co-president of Nordstrom, Inc. “Mike has played an integral role in our company’s story, helping guide us through significant periods of expansion, growth and investment. He has provided our company with tremendous knowledge and strategic financial expertise that has always been grounded with an unwavering focus on taking care of the customer. He will be sorely missed and we wish him the absolute best in his well-deserved retirement.”

About Nordstrom
Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 346 stores in 40 states and Canada. Customers are served at 123 Nordstrom stores in the U.S. and Canada; 213 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its six clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

INVESTOR CONTACT:
Trina Schurman
Nordstrom, Inc.
(206) 303-6503

MEDIA CONTACT:
Tara Darrow
Nordstrom, Inc.
(206) 303-3016

SOURCE: Nordstrom, Inc.

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Advance Auto Parts announces the appointment of Thomas (Tom) Okray as EVP and CFO

ROANOKE, Va., 2016-Oct-06 — /EPR Retail News/ — Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America, serving both professional installer and do-it-yourself customers, today announced it has appointed Thomas (Tom) Okray as Executive Vice President, Chief Financial Officer, effective October 31, 2016. As part of the previously announced orderly transition, Mr. Okray will succeed Mike Norona, who will remain with the Company in an advisory role until the end of the year.

Mr. Okray, 53, brings more than 25 years of experience in finance, operations and supply chain to Advance Auto Parts. Most recently, Mr. Okray served as Vice President, Finance, Global Customer Fulfillment at Amazon, where he was the finance lead overseeing the optimization of key elements of Amazon’s Global Fulfillment Network. Prior to joining Amazon, Mr. Okray spent the majority of his career at General Motors (GM) in a variety of finance and supply chain related roles. He was most recently responsible for overseeing more than $120 billion in annual expenses and $8 billion in capital expenditures as CFO, Global Product Development, Purchasing & Supply Chain. Prior to that, he held a variety of finance roles supporting GM’s operations, vehicle development, supplier and partner base around the world.

“On behalf of the entire executive team, we are delighted to welcome Tom to the Advance team,” said Tom Greco, President and CEO. “Tom brings deep experience in finance, with a particular focus on leading the finance function in helping to drive efficient supply chain operations. Importantly, Tom is very familiar with a supply chain that must respond rapidly to online demand. This will be increasingly critical to accelerating our growth at Advance going forward. Tom’s strong track record as a proven and respected leader within Fortune 100 companies like Amazon and GM, and his passion for success, make him the ideal person to lead our finance function.”

Mr. Greco continued, “I would like to thank Mike Norona for his tireless efforts and strong financial leadership and contributions during his tenure, and in particular over the last few months. We look forward to continuing to benefit from his guidance as we complete a smooth transition.”

Mr. Okray said, “Advance is a well-positioned industry leader with an extraordinary opportunity to deliver improved performance. I am truly honored and excited to join the team during this transformative time. I look forward to working with Tom, the management team, and the entire Advance family to help contribute to Advance’s success.”

Thomas Okray Biography

Mr. Okray joins Advance Auto Parts from Amazon, which he joined in 2015 as Vice President, Finance, North American Operations. In January 2016, Mr. Okray became Vice President, Finance, Global Customer Fulfillment where he was the finance lead responsible for optimizing key elements of Amazon’s Global Fulfillment Network, including transportation/ supply chain, capacity and labor planning, cost/productivity of fulfillment centers, capital, engineering and procurement. Prior to joining Amazon in 2015, Mr. Okray held various leadership positions at General Motors, including roles in the United States, Germany, Italy, Poland and Korea. In his most recent role as CFO, Global Product Development, Purchasing & Supply Chain, he was responsible for supporting future vehicle, engine and transmission development, global capital, engineering expense, and purchasing operations which included the company’s global supply chain organization. Mr. Okray earned a bachelor’s degree in chemical engineering from Michigan State University, and received an MBA from the University of Chicago’s Booth School of Business. He has also participated in a Transformational Leadership Program through Stanford University’s Graduate School of Business.

About Advance Auto Parts

Advance Auto Parts, Inc., a leading automotive aftermarket parts provider in North America, serves both professional installer and do-it-yourself customers. As of July 16, 2016, Advance operated 5,066 stores and 126 Worldpac branches and served approximately 1,300 independently owned Carquest branded stores in the United States, Puerto Rico, the U.S. Virgin Islands and Canada. Advance employs approximately 74,000 Team Members. Additional information about the Company, employment opportunities, customer services, and on-line shopping for parts, accessories and other offerings can be found on the Company’s website at www.AdvanceAutoParts.com.

Forward Looking Statements

Certain statements contained in this release are forward-looking statements, as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events or developments, and typically use words such as believe, anticipate, expect, intend, plan or forecast. These forward looking statements include, but are not limited to, objectives and expectations; statements regarding expected growth and future performance of Advance Auto Parts, Inc. (AAP); expectations regarding leadership changes and their impact on the company’s strategies, opportunities and results; statements regarding enhancements to shareholder value; statements regarding strategic plans or initiatives, growth or profitability; and all other statements that are not statements of historical facts. These forward-looking statements are subject to significant risks, uncertainties and assumptions, and actual future events or results may differ materially from such forward-looking statements. Such differences may result from, among other things, the risk that the benefits of the General Parts International, Inc. (General Parts) acquisition, including synergies, may not be fully realized or may take longer to realize than expected; AAP’s ability to attract, develop and retain executives and other employees; changes in regulatory, social and political conditions, as well as general economic conditions; competitive pressures; demand for AAP’s and General Parts’ products; the market for auto parts; the economy in general; inflation; consumer debt levels; the weather; business interruptions; information technology security; availability of suitable real estate; dependence on foreign suppliers; and other factors disclosed in AAP’s 10-K for the fiscal year ended January 2, 2016 and other filings made by AAP with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. AAP intends these forward-looking statements to speak only as of the time of this communication and does not undertake to update or revise them as more information becomes available.

Media Contact:
Laurie Stacy
540-561-8452
laurie.stacy@advanceautoparts.com

Investor Contact:
Zaheed Mawani
919-573-3848
zaheed.mawani@advanceautoparts.com

Source: Advance Auto Parts, Inc.

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Tiffany & Co. announces the appointment of Mark Erceg as its next EVP and CFO

NEW YORK, 2016-Sep-15 — /EPR Retail News/ — Tiffany & Co. (NYSE:TIF) has appointed Mark Erceg to become its next executive vice president and chief financial officer, responsible for the Company’s worldwide financial, indirect procurement and information technology functions.

Mr. Erceg, 47, will be based in New York and will report to Frederic Cumenal, chief executive officer. His appointment will become effective on October 18, 2016. He replaces Tiffany’s former chief financial officer who left the Company in May to pursue a position at another company.

Previously, Mr. Erceg has been employed at Canadian Pacific Railway Limited, where he has served as executive vice president and chief financial officer since May 2015. From 2010 – 2015, he was the chief financial officer for Masonite International Corporation. He began his career at The Procter & Gamble Company in 1992 where, over 18 years, he served in positions of increasing responsibility in finance, market strategy, customer response, general management and global investor relations.

“Mark brings an operational process orientation and a broad financial, international and consumer brands background to Tiffany,” said Mr. Cumenal. “As the new leader of our multi-talented finance, procurement and information technology organizations, his varied experience and global perspective will be important as we continue to work toward strengthening Tiffany’s luxury brand position around the world and enhancing our profitability and productivity.”

Tiffany is the internationally-renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit www.tiffany.com or call our shareholder information line at 800-TIF-0110.

Forward-Looking Statements:

Statements contained in this document that are not statements of historical fact, including those that refer to plans, assumptions and expectations for brand position, profitability and productivity, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements that can be identified by the use of words such as ‘work toward,’ ‘strengthen,’ ‘enhance,’ ‘continue,’ ‘will,’ ‘expect,’ ‘anticipate,’ ‘believe,’ and variations of such words and similar expressions.

These forward-looking statements are based upon the current views and plans of management, speak only as of the date on which they are made and are subject to a number of risks and uncertainties, many of which are outside of our control. Actual results could therefore differ materially from the planned, assumed or expected results expressed in, or implied by, these forward-looking statements. While we cannot predict all of the factors that could form the basis of such differences, key factors include, but are not limited to: global macroeconomic and geopolitical developments; changes in interest and foreign currency rates; shifting tourism trends; regional instability, violence (including terrorist activities) and weather conditions that may affect local and tourist consumer spending; changes in consumer confidence, preferences and shopping patterns, as well our ability to accurately predict and timely respond to such changes; shifts in the Company’s product and geographic sales mix; variations in the cost and availability of diamonds, gemstones and precious metals; changes in our competitive landscape; disruptions impacting the Company’s business and operations; gains or losses in the trading value of the Company’s stock, which may impact the amount of stock repurchased; and our ability to successfully control costs and execute on, and achieve the expected benefits from, our operational and strategic initiatives. Developments relating to these and other factors may also warrant changes to the Company’s operating and strategic plans, including with respect to store openings, closings and renovations, capital expenditures, inventory management, and continuing execution on, or timing of, the aforementioned initiatives. Such changes could also cause actual results to differ materially from the expected results expressed in, or implied by, the forward-looking statements.

Additional information about potential risks and uncertainties that could affect the Company’s business and financial results is included under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2016 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s quarterly reports filed on Form 10-Q in 2016. Readers of these documents should consider the outlined risks, uncertainties and factors in evaluating, and are cautioned not to place undue reliance on, the forward-looking statements contained herein. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law or regulation.

Contact:
Mark L. Aaron
212-230-5301
mark.aaron@tiffany.com

Source: Tiffany & Co.