New pres. at Federated
March 5, 2001,
CINCINNATI -Federated Department Stores has announced the elevation of Susan Kronick to the newly created position of group president of Federated, as well as other management changes in its department store division, all of which will take effect April 1.
Reporting to Terry Lundgren, president and chief merchandising officer, she will be based in Miami.
"We are creating the new position of group president within Federated in order to provide greater support for our important regional department store operations, which account for more than one-third of Federated's total annual revenues," said James Zimmerman, chairman and ceo, Federated. "Sue Kronick is an accomplished retail executive, and we think her depth of management experience and proven leadership skills will serve the company well in this new position."
In addition, Timothy Adams, who has been president of The Bon Marché since 1998, will succeed Kronick and become chairman of Burdines. In his new post, Adams will join with Michael Osborn, president, and David Scheiner, vice chairman and director of stores.
Peter Sachse, vice chairman/director of stores for Macy's East since 1999, will take over as president of The Bon Marché, succeeding Adams. He will work with Daniel Edelman, chairman.
Ronald Klein, chairman of the soon-to-be-closed Stern's division, will return to Macy's East as executive vice chairman of the company's largest department store division, responsible for all store operations. Klein, who was vice chairman/director of stores at Macy's East prior to moving to Stern's in January 1999, will again join management forces with Harold Kahn, chairman, and James Gray, president, of the New York-based division that produced annual sales of more than $4.7 billion last year.
James Andress continues as president of Stern's, responsible for the complete transition of Stern's stores to Macy's and Bloomingdale's, after which he is expected to be named to another position.
These appointments are "important steps toward promoting the future growth and continued stability of our company," said Lundgren. "Federated is fortunate to have within its ranks such a high-caliber roster of division management talent from which to draw."
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