Pennacchio joins Home Textiles firm WestPoint, CEO
13 Oct '05
3 min read
Nation's bed linens provider WestPoint Home Inc announced the appointment of Joseph Pennacchio as Chief Executive Officer (CEO). Mr. Pennacchio brings to the Company more than 20 years of experience as a merchant and senior manager with leading retailers in addition to 10 years as CEO of an offshore manufacturer serving many of WestPoint's principal customers.
M.L. (Chip) Fontenot, associated with WestPoint since 2001 and CEO since 2003, will remain with WestPoint Home as its Vice Chairman and serve as a senior advisor to the board on a transitional basis. Mr. Fontenot commented that Mr. Pennacchio is the right choice to lead WestPoint Home.
He knows how to get lower-cost sourcing and manufacturing offshore and will accelerate the process already underway. In addition, his many years of experience in the home fashion business will help him leverage their leadership in design, product development and customer service.
Prior to joining WestPoint Home, Mr. Pennacchio was CEO of Aurafin Corporation, a leading jewelry maker, where he dramatically improved profitability by lowering costs, doubling the size of the business and bringing in new management talent. At Aurafin, he was credited as a strong, results-oriented team leader who led the company to source in Asia and Latin America long before its peers and who, throughout his tenure, served as a highly effective change agent.
Earlier in his career, Mr. Pennacchio served as a memberof senior management at Federated Department Stores Inc and R.H. Macy & Company Inc, where he had a highly successful career and earned a reputation as an outstanding merchant and operator. Having been a general merchandising manager himself, Mr. Pennacchio is expected to bring a merchant's mindset to the leadership of WestPoint Home.
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