Senior execs depart, Richloom realigns
January 5, 2004,
New York — With the departures of Ira Segal, president of Richloom Home Fashions bedding division, and Wendy Keryk, president of Richloom Home Fashions window division, in December, the company is in the process of reorganizing these business segments to reflect a radically changing world home textiles environment.
"We are reorganizing to sustain our strong growth this year, and developing an organization for a new world, to keep in step with the world today," said Andrew Riesel, vp, Richloom Fabrics Group, and president of Richloom Home Fashions. "No one ever though how fast this global change would be — it's a very changed environment."
"We were fortunate to have two qualified people in both Wendy and Ira, who through their tenures ran profitable divisions," Riesel remarked. "Within the next few weeks, Jim [Richman, president of Richloom Fabric Group] and I will address the issues of who will handle specific parts of these businesses. It's a big organization, and we have lots of talent.
In the short term, Richman and Riesel will oversee the Home Fashions business, working with Todd Cella, director of sales and merchandise for department and specialty stores and the third member of the Home Fashions division. Richloom is forecasting a 30-plus percent sales increase in 2004, Riesel said.
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