Apparel and craft sewing fabrics retailer Jo-Ann Stores Inc announced that Brian P. Carney, Executive Vice President and Chief Financial Officer, and Valerie Gentile Sachs, Executive Vice President, General Counsel and Secretary, have resigned from the company both effective at the end of the month.
Mr. Alan Rosskamm, Chairman and Chief Executive Officer stated that while they deeply regret Brian and Valerie's independent decisions to leave, they thank them for their contributions to Jo-Ann's growth and wish them success in their new endeavors. However, they are fortunate to have a strong and experienced financial team in place, and they are confident that they will be able to accomplish a seamless transition.
During the transition period of finance team will be led by Jim Kerr and Don Tomoff. Jim has been leading their effort to build a proactive financial organization that is fully integrated in company-wide day-to-day operations. Additionally, Don will continue to be responsible for investor relations, financial reporting and the company's treasury and tax operations.
James C. Kerr, Vice President and controller, 43, joined the company in February 1998 and has 21 years of financial and accounting management experience, the majority of which has been with publicly-held retail companies. Donald R. Tomoff, Vice President, finance and treasurer, 46, joined Jo-Ann in February 1999 and has 24 years of progressive experience in corporate accounting and finance.
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