Shull leaves Hanover; Wachtel and Garten to fill posts

EDGEWATER, N.J. — Thomas Shull has resigned as chairman of the board, president and CEO of Hanover Direct, Inc. In his place, the company has elected William Wachtel as chairman of the board and Wayne Garten as president and CEO.

Wachtel has served as a member of the company's board of directors since Nov. 18, 2003, while Garten has served as director of Hanover Direct since Sept. 29, 2003, each as a designee of the holder of the company's preferred stock, Chelsey Direct, LLC.

Wachtel has been a managing partner of Wachtel & Masyr, LLP, or its predecessor law firm (Gold & Wachtel, LLP), since its founding in August 1984. He is the co-founder of the Drum Major Institute, a not-for-profit organization. He is also the manager of Chelsey Direct, LLC.

Since January 2004, Garten has served as president of Caswell-Massey Ltd., Inc., a retailer and direct marketer of fragrance and other personal care products. Before that, he was a financial consultant specializing in the direct marketing industry. He served as CEO and president of Popular Club, Inc, a direct selling, catalog marketer of apparel and general merchandise products, from 2001 to 2003.

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