Jones Realigns Senior Management Team at Borders and Creates New Post to Drive Emerging Businesses, Alliances and Technology
26 August 2006
Borders Group, Inc. Chief Executive Officer George Jones today announced a realignment of the company's senior management team to establish new direct reporting relationships to the CEO from leaders in marketing and merchandising, as well as a new position created to drive emerging businesses and alliances, lead company strategy development and address technology opportunities.
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"I want to open Borders up to a wide variety of possibilities that have potential to build the business and move us further toward our mission to be the preferred place for knowledge and entertainment throughout the world," said Jones. "We are tapping into many opportunities with our current strategic initiatives and must also continue to mine new growth areas, which we will do under this new structure. The reorganization aligns the talents and experience of our leaders with the most critical elements of our strategic direction today and in the future."
The new senior management structure includes the following changes effective August 28:
* Cedric J.Vanzura, currently President, Borders Group International,
Paperchase Worldwide and Information Technology, has been named
President, Emerging Business, Strategy and Technology. In this new
role, Vanzura continues to report to the CEO, but will now address
emerging business opportunities, current and potential strategic
alliances, and technology development. He will continue to head the
global Paperchase gifts and stationery business as well as the
Information Technology group.
* Vincent E. Altruda, currently President, Borders Group U.S., is now
President, Borders Worldwide. In this new role, Altruda continues to
report to the CEO and now heads store operations for more than 1,200
Borders and Waldenbooks Specialty Retail stores around the globe, as
well as Books etc. stores in the U.K. He will be dedicated to enhancing
the customer shopping experience and leading the field organization.
* Michael A. Tam, currently Senior Vice President and Chief Marketing
Officer, retains this title and responsibility for oversight of
advertising, interactive marketing and customer loyalty, creative
services, and events, but will now report to Jones as more focus is
placed on marketing to drive strategic initiatives. He formerly
reported to Altruda.
* The position of Chief Product Officer, which is currently an open post
at Borders Group and formerly reported to Altruda, will now also report
to Jones when filled. This position will lead the buying teams for
books, music and movies and also address potential new product
development and other initiatives within the merchandising area.
* Edward W. Wilhelm, currently Senior Vice President and Chief Financial
Officer, will continue to report to the CEO in this position, which
includes leadership for finance and real estate, and will now also
include supply chain oversight.
The following individuals remain in their current positions with no change in responsibility and will continue to report to Jones:
* Daniel T. Smith, Senior Vice President of Human Resources
* Thomas D. Carney, Senior Vice President, General Counsel and Secretary.
About Borders Group
Headquartered in Ann Arbor, Mich., Borders Group, Inc. is a leading global retailer of books, music and movies with more than 1,200 stores and approximately 35,000 employees worldwide. More information on the company is available at http://www.bordersgroupinc.com.
Source: prnewswire
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