Apparel and craft sewing fabrics retailer Jo-Ann Stores Inc announced that it would expand its executive leadership by separating the role of Chairman from that of the newly created position of President and Chief Executive Officer.
The change will allow the Company to accelerate its ongoing strategic transformation while bringing sharper focus to the execution of the strategy and the management of day-to-day operations.
Under the new structure, Alan Rosskamm, currently Chairman, President and Chief Executive Officer, will serve as Executive Chairman with primary responsibility for the strategic direction, vision, and culture of the Company.
An immediate nationwide search will be launched to fill the new position of President and Chief Executive Officer, who will report to Mr. Rosskamm and assume responsibility for day-to-day operations and execution of the Company's strategy. Mr. Rosskamm with continue to serve as President and Chief Executive Officer during the search process.
Gregg Searle, Jo-Ann's lead independent Director, said, "The directors are united in support of Alan's leadership and strategic vision for the Company. And agree that this new executive structure will provide the appropriate organizational foundation to take the Company to the next level of growth and performance."
Nation's leading fabric retailer Jo-Ann Stores Inc is one of the largest specialty retailers of crafts, serving customers in their pursuit of apparel and craft sewing, crafting, home decorating and other creative endeavors.
The retail stores (operating as Jo-Ann Fabrics and Crafts traditional stores and Jo-Ann superstores) feature a variety of competitively priced merchandise used in sewing, crafting and home decorating projects, including fabrics, notions, crafts, frames, scrapbooking material, artificial and dried flowers, home accents, finished seasonal and home décor merchandise. As of January 29, 2005,operated 851 stores in 47 states (737 traditional stores and 114 superstores).
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