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Former Liz executive Michael Scarpa joins Talbots
Dec '08
The Talbots Inc announced that Michael Scarpa, former Chief Operating Officer and 25-year veteran of Liz Claiborne Inc., has been appointed Chief Operating Officer of The Talbots, Inc., reporting directly to Trudy F. Sullivan, President and Chief Executive Officer, effective immediately.

The Company also announced that after nearly two decades, Senior Vice President, Finance and Chief Financial Officer Ed Larsen will retire from his position effective January 5, 2009. At that time, Mr. Scarpa will assume the additional role of Chief Financial Officer of The Talbots, Inc. Mr. Larsen will remain with the Company as a strategic advisor and will assist in the orderly transition of his duties and responsibilities.

Michael Scarpa, 53, joins Talbots with 30 years of operational and financial expertise in the specialty retail and apparel sector. Mr. Scarpa most recently served as Chief Operating Officer of Liz Claiborne, where he oversaw Supply Chain, Information Systems, Retail Operations, Inventory Management as well as Liz Claiborne's Canadian Businesses.

Prior to that, Mr. Scarpa served as Liz Claiborne's Chief Financial Officer for over seven years, where, in addition to overseeing the Company's financial operations, he was instrumental in guiding Liz Claiborne's business development activities, which involved multiple acquisitions. Mr. Scarpa has a B.A. and M.B.A. from Rutgers University and is a Certified Public Accountant. At Talbots, Mr. Scarpa's responsibilities will include Finance, Supply Chain, Information Technology, Inventory Management and Strategic Planning.

Trudy F. Sullivan, President and Chief Executive Officer of The Talbots, Inc. remarked, "We are extremely pleased to welcome Mike to the Talbots team. Having worked closely together for many years at Liz Claiborne, I am confident that Mike is ideally suited to succeed in his dual role as COO and CFO. His extensive finance and operating experience, retail industry expertise and proven leadership skills will be a great asset as we continue to make progress in executing against our long-term strategic plan."

Mr. Tsutomu Kajita, Chairman of the Talbots Board of Directors commented, "Michael's comprehensive experience and demonstrated leadership will enhance the Company's ability to maximize its operational efficiency and achieve its financial objectives. Michael is a great addition to Talbots strong management team. His broad finance background will be especially beneficial to the organization during this most difficult macro-economic cycle, and we are excited to welcome him to the Company's senior management team."

Commenting on Mr. Larsen's retirement, Ms. Sullivan said, "Ed leaves behind a tremendous legacy and will be greatly missed. During his 17 years of service, Ed has helped guide the Company through several critical milestones including the Company's initial public offering and most recently, the strategic review of theTalbots business and announcement of our three-year turnaround plan."

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