Feb '09
Additionally, the Company announced that Bill Bass has been appointed Interim President of the Company's Charming Direct division, also reporting to Rosskamm. The Company also announced the promotion of Rachel A. Ungaro to Sr. Vice President, General Merchandising and the appointment of James A. Ferree as Sr. Vice President, General Merchandising, both of the Company's Fashion Bug brand.
Romano will be responsible for executing the Company's business transformation and restructuring and cost reduction programs. The objectives of these programs include improving and simplifying critical processes, consolidating activities and infrastructure, and reducing the Company's expense structure.
Romano served as Executive Vice President of Ann Taylor, Inc. from 2004 through 2008, with responsibilities that included Supply Chain and Corporate Operations. He joined Ann Taylor in 1997 as Sr. Vice President of Logistics, and later assumed additional responsibility for Purchasing Operations prior to his appointment as Executive Vice President. From 1988 through 1996, Romano held a number of financial and operational roles at Charming Shoppes, Inc., culminating in his appointment as Vice President of International Operations.
Alan Rosskamm said, "Tony's appointment as Executive Vice President underscores our commitment to transforming and simplifying our business and refocusing our energies on our core retail brands - Lane Bryant, Fashion Bug and Catherines. His responsibilities will include the oversight and execution of a number of transformational projects that we are currently undertaking.
Tony will also have responsibility for executing on our plan to achieve net cost reductions of approximately $100 - $125 million over the next two fiscal years, with more than $75 million expected to be realized in fiscal year 2010."
Rosskamm continued, "The transformation of our merchandising processes and the attainment of significant cost savings through our restructuring plan will position us for significantly improved operating performance for the future, in addition to further strengthening our balance sheet and liquidity. We welcome Tony and look forward to his contributions to Charming Shoppes."
In his executive leadership role as Interim President of Charming Direct, Bass will have responsibility for the Company's direct-to-consumer and e-commerce businesses, including the Company's retail brands' related e-commerce businesses.
He will also be responsible for the oversight of the development of an entirely new and upgraded e-commerce platform, and the development of additional direct-to-consumer businesses that directly service the Company's core brands - Lane Bryant, Fashion Bug and Catherines.
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