McCallum resigns as Joan Fabrics president, ceo

Tyngsboro, Mass. -- Elkin McCallum, chairman, president and ceo of Joan Fabrics Corp., has stepped down as president and ceo, effective March 30. He will continue to serve on Joan’s board of directors.

Carl Marks Advisory Group, a financial and management advisory company, has been hired to operate Joan, reporting to the company’s board of directors.

Richard Heller will assume the responsibilities as coo; Mel Henson has been named cfo, and Duffield Meyercord has been named chief restructuring officer. Heller, Henson, and Meyercord are employed by Carl Marks Advisory Group. Jette Campbell, also of Carl Marks, will work with the company to explore strategic options.

Joan, and its divisions including Mastercraft, Home Fabrics, and Circa 1801/Doblin, was once one of the largest decorative fabrics mills in the United States.

Last month, McCallum was cited in a civil suit by the SEC that included nine former Collins & Aikman directors and executives allegedly involved in fraudulent schemes between 2001 and 2005 involving Collins & Aikman, an automotive components supplier. McCallum had sold the automotive velvet segment of Joan to C&A, and served for a time on its board.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!