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Phillips-Van Heusen announces three of its long-time directors

May '07
Phillips-Van Heusen Corporation announced that three of its long-time directors, including Bruce Klatsky, Chairman of the Board, will retire from the Board effective at the company's annual meeting on June 19, 2007. In addition to Bruce Klatsky, Joel Goldberg and Marc Grosman, who have been directors of the company since 1997, are also retiring.

Emanuel Chirico, Chief Executive Officer, is expected to be named Chairman subject to his re-election to the Board at the upcoming meeting. Additionally, Henry Nasella, an independent director of the company, is expected to be named to preside over the meetings of the non-management directors of the company, subject to his re-election as a director. Mr. Klatsky currently presides over such sessions.

Mr. Klatsky said, “I joined PVH almost 36 years ago as a merchandise trainee and rose through the ranks to become its Chairman, including the past two years as non-executive Chairman. I have been very proud to lead such a dedicated group as our Board, and cannot imagine a better person to succeed me than Manny Chirico.”

He continued, “Manny Chirico joined our corporation from Ernst & Young as Controller in 1993 and became Executive Vice President and Chief Financial Officer in 1999, President and Chief Operating Officer and a director in 2005 and Chief Executive Officer in 2006. His performance in each of these roles has been nothing short of outstanding. He has well earned the esteem he enjoys in the financial and investment community, within the company and on our Board of Directors.”

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