Federated recruits Cosby for property development
August 28, 2006,
Cincinnati -- Federated Department Stores has named Mark Cosby to the new position of senior vp for property development, reporting to Federated vice chairman Tom Cole. Cosby will oversee a range of corporate-level functions, including store design and construction, energy services, real estate and licensed operations.
In other news, the board of directors of the $27 billion retailer authorized a new $2 billion common share buyback. This stock repurchase program is in addition to the existing one, which had about
$383 million of authorization remaining.