Liz Claiborne's boss to retire at year end, president named
25 Jan '06
4 min read
Apparel group Liz Claiborne Inc has announced that Paul R Charron, Chairman and Chief Executive Officer, plans to retire at the end of 2006 when his current contract expires.
Charron, 63, has served as CEO since 1995 and Chairman since 1996. Consistent with good corporate governance practices, the Board of Directors has in place a comprehensive process to identify a successor, which will consider both internal and external candidates.
The Board has retained Spencer Stuart to assist in the process.
Liz Claiborne Inc also stated that Executive Vice President Trudy Sullivan, 56, has been named President. In that role, Sullivan will have expanded global responsibility for the business lines and myriad brands in the company's portfolio.
Bernard Aronson, Chairman of the Board's Nominating and Governance Committee, said, "Under Paul's stewardship, Liz Claiborne Inc has been transformed into one of the world's largest designers and marketers of fashion apparel and accessories. The company has evolved from being dependent on a namesake brand sold almost exclusively through US department stores into a powerful international, multi-brand and multi-channel business.”
“For over a decade, Paul has been instrumental in driving growth, both organically and through successful acquisitions, generating substantial returns for our investors and new opportunities for our customers and associates. We thank him for his strong leadership, passion anddedication. We are fortunate to be able to rely on Paul's continued commitment in the year ahead as he and his teams pursue the important initiatives that are under way. The Board is focused on finding the best leader for the Company going forward and on ensuring a smooth transition," he said.
marketing@alchempro.com
