Borders Group announced Monday that it has shaken up its top management, as well as a double-digit drop in holiday sales from a year ago and a potential delisting from the New York Stock Exchange.Some are pointing to Marshall's experience as a turnaround specialist in his previous roles. No doubt that's the big reason for his appointment, but I can't help noting that he will probably bring a CPG/food mindset to the book biz, helping to further the convergence of retail practices.
Ron Marshall, who is a founder and principal of Wildridge Capital Management and a longtime retail executive, will replace George Jones as Borders’s chief executive. Mr. Marshall, 54, will also serve as a director. Borders also named a new chief financial officer, chief administrative officer and a new top executive for merchandising and marketing.
Monday, January 12, 2009
Borders brings in former Nash Finch CEO
Borders has hired Ron Marshall, a former CEO from Pathmark stores and food distributor Nash Finch, to be its new boss, hoping to stop continuing losses.