Retailer Saks Incorporated announced organizational changes for several New York-based Saks Fifth Avenue (SFA) executives effective February 5, 2007.
Stephen I. Sadove, Chief Executive Officer of Saks Incorporated, noted, "Over the past year we have made tremendous progress in bringing greater clarity to our strategy for winning and building a high performance culture."
"I am delighted with the spirit of teamwork between the various functional areas within the Company and the close alignment of the merchants and stores in providing a terrific assortment of products and excellent service to our customers. These organizational changes will enable us to continue our momentum at SFA and to capitalize on the strengths of our management team."
Ron Frasch, Vice Chairman and Chief Merchant of Saks Fifth Avenue, is being named President and Chief Merchandising Officer of the Company.
Sadove noted, "Ron has provided outstanding strategic direction to the merchandising organization and has been instrumental in strengthening our vendor relationships and in substantially improving our merchandise assortments by market. Ron will continue to play a pivotal role as we continue to grow the business and strengthen our operating performance."
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