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
Textiles | On 20th Apr 2018
Vietnam earned $7.339 billion from textile and garment exports in the ...
Apparel/Garments | On 20th Apr 2018
Uganda is yet to take full advantage of the Africa Growth and...
Textiles | On 20th Apr 2018
KBR, Inc. has successfully completed the ethylene plant revamp...
Amrit Sethia
SOIE
‘The intimatewear category in India is slowly becoming trend-sensitive.’
C. Dhandayuthapani
Mag Solvics Pvt. Ltd
ITME 2016 exploited our full strength like never before
Manfred Mentges
Sedo Treepoint GmbH
We see a higher demand in colour management systems, as customers see big...
Marcel Alberts
Eurofibers
Coating at a fibre level is a practice not usually seen in the...
Kevin Nelson
TissueGen
Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...
Lynda Kelly
Suominen Corporation
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Divvya and Nidhhi Gambhir
Walnut
<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...
Akta Adani
India Boulevard
India Boulevard is a San Francisco-based curated fashion marketplace that...
Robert Brunner
Devereux
Golfwear and menswear brand Devereux is set for greener pastures. Robert...
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
Yes No SkipActive Poll
Do you see sustainability as a route to business growth?
YesTotal Votes: 103
Do you think adopting a sustainable approach will be a profitable move for your business?
Yes No SkipActive Poll
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
YesTotal Votes: 103
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
Yes No SkipActive Poll
Do you think adopting a sustainable approach will be a profitable move for your business?
YesTotal Votes: 103
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?
YesTotal Votes: 103