Federated Department Stores elects Karen Hoguet as Executive Vice President/CFO
24 May '05
3 min read
Nation's largest department store Federated Department Stores Inc has elected Karen M. Hoguet as executive vice president/chief financial officer of the company. Hoguet, 48, is being promoted from her current position as senior vice president/chief financial officer, effective June 1.
"This promotion is recognition of the increasingly important role Karen Hoguet is playing in the company, and the growing responsibilities that she will undertake as the merger between Federated and the May Company proceeds," said Terry J. Lundgren, Federated's chairman, president and chief executive officer. "She is extremely talented and capable, and they are fortunate to have an executive of her caliber in this crucial position."
Concurrently, Lundgren said that Ronald W. Tysoe, who had planned in this timeframe to announce his retirement as Federated's vice chairman/real estate and finance, has agreed to stay on for up to two more years, during which time he will concentrate on the integration of May Co. into Federated.
"Ron Tysoe has made many invaluable contributions to Federated over the years for which they are most appreciative," Lundgren said. "Because of his unique talents, they are very pleased that he has agreed to remain as vice chair during this important transitional period."
Hoguet, who previously reported to Tysoe, will report directly to Lundgren in her new position. She also will assume responsibility for the company's area research functions, which previously reported to Tysoe. The company's real estate function, which also reports to Tysoe, will transition to Federated Vice Chair Thomas L. Cole.
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