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TJX Plays Exec Musical Chairs

Off-pricer TJX Companies is reworking its executive structure, putting new top management in place at its Marmaxx and HomeGoods divisions effective Jan. 21 of next year.

The series of changes flow from the departure of Carol Meyrowitz, president of The Marmaxx Group and senior executive vice president of TJX. Meyrowitz, who joined the company in 1983 at its Hit or Miss division, will remain with TJX in an advisory capacity to help with the management transition through September 2005.

Meyrowitz said she hopes to expand her position on corporate boards and pursue consulting work. “Although I do not now know what the longer term holds for my career, I am excited with the possibilities,” she said.

The new president of the Marmaxx Group will be Ernie Herrman, formerly chief operating officer, Marmaxx. Herrman joined TJX in 1989 and held a series of senior merchandising positions of increasing responsibility. He was named Marmaxx's executive vice president of merchandising in 2001 and promoted to chief operating officer and executive vice president only seven months ago.

Succeeding him will be Jerome Rossi, president of the HomeGoods division since 2000. He joined Marshalls — then an independent chain — as president and chief operating officer in 1990. He held a variety of operational positions at the Marmaxx Group from 1996 to 2000.

The new president of HomeGoods will be Lisa Panattoni, who has served in senior merchandising positions at HomeGoods since 1998, most recently as senior vice president of merchandising and marketing. She joined the company in 1990 in a merchandising capacity at Marshalls.

Panattoni's former position will be taken by Nan Stutz, formerly vice president, general merchandising manager, Marmaxx. Prior to her appointment, she held a series of senior merchandising positions with HomeGoods, Marmaxx and TJX's former Hit or Miss division, which she joined in 1990.

Robert Cataldo has been promoted to chief operating officer, HomeGoods. He had been chief information chief and executive vice president of TJX since March, when he was promoted from his position as senior vice president and corporate chief information officer, a post he held since 2001. Prior to that, he held a senior systems and finance position with the HomeGoods division, which he joined in 1997. Before joining TJX, he held financial positions with Zayre Corp., the predecessor company of TJX, from 1978 to 1988.

Edmond English, president and CEO of The TJX Companies, said, “We are extremely fortunate to have a strong and deep management bench throughout Marmaxx and our other divisions and a seasoned group president in Alex Smith, who will provide continuity in leadership for both Marmaxx and HomeGoods.”

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