Li & Fung Restructures
May 16, 2005,
Li & Fung USA has re-aligned its operation into a Home Brands Group and an Apparel Brands Group.
In additional, Scott Maddalene has been promoted to senior vice president for the Cannon and Cannon Royal Family brands. He had previously been vice president of global brand development for Cannon Brands. His career includes turns at WestPoint Stevens as vice president of bed merchandising and managing director for WestPoint Stevens Europe.
Lou Casali, senior vice president for the Royal Velvet brand, now reports to Toolan.
In addition, Ron Ventricelli has been promoted to executive vice president of operations. He will oversee financial, customer services and all operating issues related to the Global Brand Business Group. Ventricelli, Toolan and the new executive vice president of the Apparel Brands Group, Robert Crocco, all report to Rick Darling, president of Li & Fung USA.
“By creating this new management structure, we are in a better position to pursue our goal of adding great consumer brands,” said Darling. “Additionally, with Ron's experience in finance and operations, we will be able to execute and operate a more efficient back-end process.”