The TJX Companies declares top management succession plans
11 Sep '06
3 min read
The TJX Companies Inc, the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, announced that its Board of Directors has approved a succession plan for executive management of the Company.
The Board intends to elect Carol Meyrowitz, 52, to the position of Chief Executive Officer, effective with the beginning of the Company's next fiscal year, on January 28, 2007. The Board also elected Ms. Meyrowitz a Director of the Company, effective immediately. Ms. Meyrowitz will retain her current title as President of the Company. Current Chairman and Acting CEO, Bernard (Ben) Cammarata, 66, will continue as Chairman of the Board.
Carol Meyrowitz, who joined the Company in 1983, was named President of The TJX Companies in October 2005. Ms. Meyrowitz has extensive experience as an off-price executive, having previously served as Senior Executive Vice President of TJX and President of The Marmaxx Group, the Company's largest division.
For several months during 2005, she was employed in an advisory role for TJX and consulted for Berkshire Partners L.L.C., a private equity firm based in Boston. Ms. Meyrowitz served as President of Marmaxx from 2001 - January 2005. She also previously held senior management positions with Chadwick's of Boston and Hit or Miss, former divisions of TJX.
To support this transition and effective immediately, Donald Campbell, 55, current Chief Administrative and Business Development Officer, isbeing named Vice Chairman of the Company. As Vice Chairman, Mr. Campbell will have responsibility for all of TJX's corporate/administrative functions and business development efforts.
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