Home / Knowledge / News / Apparel/Garments / Department store Belk names Adam Orvos as CFO
Department store Belk names Adam Orvos as CFO
03
Nov '12
Brian Marley has announced his retirement as executive vice president and chief financial officer of Belk, Inc. effective May 4, 2013, after more than 12 years of outstanding service and leadership at the company.

Following his retirement, Marley has agreed to serve as a consultant to Belk for 12 months to assist in the transition of his responsibilities and provide advice on various financial matters. He will also continue to serve on the Investment Committee of The Belk Foundation and the Advisory Board of the Belk School of Business at UNC-Charlotte.

Marley joined Belk in 2000 after a 20 year career with the firm of KPMG LLP. Among his many accomplishments at Belk, Marley was instrumental in establishing expense controls, capital planning processes and cash management practices that enabled the Company to emerge from the recession with a strong balance sheet and over $500 million in cash. In 2011, the Charlotte Business Journal recognized Marley's efforts by naming him CFO of the Year.

Marley led the successful sale of Belk's credit card portfolio to GE and structured the financing of Belk's acquisitions of the Proffitt'sjMcRae's and Parisian store chains. He also spearheaded a capital allocation process which strengthened the company's balance sheet and enabled the company to invest in significant growth initiative.

"Since coming to Belk twelve years ago, Brian has played an integral leadership role in many key strategic initiatives that have greatly strengthened the company and its financial position," said Tim Belk, chairman and CEO. "He has left an indelible mark on Belk, and we greatly appreciate his dedication and service. We wish him much happiness and continued success upon his retirement."

Belk has announced that Marley will be succeeded in his role by Adam Orvos, who currently serves as executive vice president of human resources for the company. Orvos joined Belk in 2006 as senior vice president of finance and corporate controller, and was promoted to his current position in 2009. 

Orvos began his retail career in 1987 with the May Department Stores Company in St. Louis, Mo. In 1993, he joined the Foley's division of May in Houston, Texas, and was named vice president and controller in 2000 and senior vice president and chief financial officer in 2004. Orvos is a graduate of the University of Missouri with a Bachelor of Science degree in business administration.

"We're pleased to name Adam Orvos as chief financial officer for Belk," said Tim Belk. "His experience as the chief financial officer of a division of May Department Stores and three years as our corporate controller have prepared him well for his new position. Adam is a talented executive and strategic thinker, and we look forward to his continued outstanding contributions to Belk."

Charlotte, N.C.-based Belk, Inc. is the nation's largest privately owned mainline department store company with 301 Belk stores located in 16 Southern states.

Belk Inc


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search