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Aggers to Take Hancock Helm

Sanders Will Assume Chairman Title

Baldwyn, Miss. — Jane Aggers has been named Hancock Fabrics, Inc. president and CEO, effective Jan. 31.

She has also been named to the company's board of directors.

Additionally, Hancock has named director Wellford Sanders Jr. non-executive chairman of the board, also effective Jan. 31.

Larry Kirk, current chairman and CEO, earlier announced his plans to retire from these positions.

Aggers is a long-time executive in the fabric retailing business, with 24 years at Jo-Ann Stores, Inc. As chief marketing, merchandising and supply chain officer, she led strategic initiatives, product development, merchandising, sourcing, supply chain management and communications strategies of the Jo-Ann brand. Aggers served on the company's executive and real estate committees and was responsible for strategic and annual operating plans.

Sanders has been a managing director with Wachovia Securities, Inc. since 1997. His prior experience includes 20 years with McGuire Woods, LLP. In addition, he has served as a director of several companies including retailers Peebles, Inc. and Catherine's Stores Corporation.

Speaking on behalf of the board, director Sanders said, “We are looking to Jane and our management team working together to achieve an appropriate return for our shareholders on the company's recent significant investments in our new distribution center and point-of-sale merchandising systems in our stores.”

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