Limited Brands Inc announced that Paul Raffin, President, and Meade Rudasill, President and Chief Operating Officer, at Express have accepted new employment opportunities outside of Limited Brands.
Jay Margolis, President of Limited Brands' Apparel Group, will assume day-to-day leadership of Express in partnership with that business's executive team while the company engages in a search for new senior leadership.
Mr. Raffin will join Frette as the Chief Executive Officer for their U.S. Operations. Frette is the leading provider of luxury linens and home products to the finest hotels and homes worldwide.
This Italian-based company, which has been in business since 1860, is now a private equity project of JH Partners, the holding company responsible for brands such as Bare Escentuals and Design Within Reach.
Mr. Rudasill has accepted the position of Chief Operating Officer for QVC, a $7 billion multi-media retailer based in West Chester, Pennsylvania.
Express has made progress in the last year," said Mr. Leslie H. Wexner, Chairman & Chief Executive Officer. "While the search for new leadership is underway, we are confident that the strong team we have in place at Express will continue to drive improved performance."
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