Department store retailer Saks Incorporated announced that Michael G. Archbold has been named Executive Vice President/Chief Financial and Administrative Officer of its Saks Fifth Avenue Enterprises ("SFAE") business segment. Archbold will report to Fred Wilson, Chairman and Chief Executive Officer of SFAE.
In this role, Archbold will be responsible for the financial and information technology operations of SFAE and will work closely with both Doug Coltharp, EVP/Chief Financial Officer of Saks Incorporated, and Kevin Wills, EVP of Finance and Chief Accounting Officer of the Company. Archbold will join SFAE on October 3, 2005.
Archbold, a Certified Public Accountant, has nearly twenty years of financial experience in the retail arena. He joined AutoZone, the nation's leading retailer of automotive parts and accessories, as Senior Vice President and Chief Financial Officer in 2002 and was promoted to the post of Executive Vice President and Chief Financial Officer earlier this year.
He served as Vice President and Chief Financial Officer of the Booksellers Division of Barnes & Noble Inc from 1996 to 2002, and between 1988 and 1996, he held various financial positions of increasing responsibility with Woolworth Corporation (now Foot Locker, Inc.). He began his accounting career at Price Waterhouse (now PricewaterhouseCoopers).
Wilson noted, 'Mike is a seasoned financial executive, and he will be a great addition to their organization. Adding Mike to their team will contribute to improved financial discipline in the SFAE operation, and his outstanding financial and retail background makes him well-suited to assume this important role.'
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