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Mr Pfeiffer to serve as Talbots Independent Lead Director
31
Jul '08
The Talbots Inc announced revised corporate governance initiatives for its Board of Directors including the appointment of Mr. Tsutomu Kajita as non-executive Chairman of the Board, Mr. Gary Pfeiffer as independent Lead Director and the establishment of an Executive Committee of the Board.

Mr. Kajita, who has been a Director of the Company since 2005, has been appointed to serve as Chairman of the Board. He is Senior Vice President, International Operations for Aeon Company, Ltd., The Talbots, Inc. majority shareholder. Prior to his current position, Mr. Kajita served as Senior Advisor of Ripplewood Holdings, LLC from 2002 to 2005, and spent nearly a decade in various capacities at Mitsubishi Corporation.

Mr. Gary Pfeiffer has been named independent Lead Director of the Board, a newly established role which replaces that of the Presiding Director and elevates its responsibility to include serving as the Chair of the Board's newly created Executive Committee.

Mr. Pfeiffer has been an independent Director of the Company since 2004, served as Presiding Director since May 2007 and currently Chair's the Company's Compensation Committee. He served as Senior Vice President and Chief Financial Officer of E. I. du Pont de Nemours and Company from 1997 through 2006, when he retired.

The newly created Executive Committee, which consists of the Chairman of the Board, (Mr. Tsutomu Kajita), the independent Lead Director (Mr. Gary Pfeiffer) and Talbots Chief Executive Officer and Board member (Ms. Trudy Sullivan) will assist the Board of Directors in overseeing the Company's financial and operational performance between regularly scheduled meetings of the Board, and take such actions and assume such other responsibilities as may be specifically delegated to it by the Board.

"These revisions to our Board strengthen our governance structure and enhance the oversight of the business and our Company's operations," stated Trudy F. Sullivan, Talbots President and Chief Executive Officer. "The appointment of Mr. Kajita as non-executive Chairman further signifies Aeon and its management's commitment and confidence in our continued success and ability to execute our long range strategic plan."

Talbots Inc


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