Neiman Marcus Group gets new ceo

CHESTNUT HILL, MA -The Neiman Marcus Group has announced that effective May 15 Burton Tansky will become ceo, succeeding Robert Smith and Brian Knez, who will become vice chairmen of the board.

Tansky will also join the board of directors on that day, as will Paula Stern, president of The Stern Group and former chairwoman, U.S. International Trade Commission, resulting in a total of nine board members.

Reporting to the board, Tansky is currently the company's president and coo, titles he has held since 1999. He served as chairman and ceo of Neiman Marcus Stores from 1994 to 2000. He first joined the company in 1989 as chairman and ceo of Bergdorf Goodman, and earlier served as president of Saks Fifth Avenue.

"Burt is a superb merchant and a great leader and developer of retail talent," said Smith. "This promotion recognizes his contributions in positioning The Neiman Marcus Group as the leading specialty retailer of apparel and luxury goods."

Knez added, "Under his leadership as president and ceo, each of the business units achieved record levels of financial performance last year. Most importantly, Burt has a track record of success at every level of responsibility he has assumed at NMG. We have great confidence in his ability to continue to deliver superior results for shareholders in the future."

Regarding Stern's appointment to the board, Smith said, "We are also fortunate to have the benefit of Paula Stern's global perspective and breadth of experience in business as well as in trade and international economic matters, and we look forward to working with her as a new member of The Neiman Marcus Group board." She currently serves as a director of Wal-Mart Stores, Avon Products and Harcourt General.

Both appointments will become effective after the termination of the company's inter-company services agreement on May 14 with Harcourt General, a global publishing company expected to be acquired in the first calendar quarter of this year. Neiman Marcus' headquarters will then be located in Dallas, where it was founded in 1907.

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