The May Department Stores Company announced the retirement of two senior executives and the promotion of two other executives.
The company announced that Clarence O. (Bud) Reynolds, chairman of Lord & Taylor, and Kenneth L. Wilkerson, chairman of Hecht's/Strawbridge's, will retire following 34-year careers with the company. Both retirements are effective June 1, 2004.
Simultaneously, May announced the promotion of Richard V. Clausing to chairman of Lord & Taylor, succeeding Mr. Reynolds, and John T. Harper to chairman of Hecht's/Strawbridge's, succeeding Mr. Wilkerson.
Jane Elfers continues as president and chief executive officer of Lord & Taylor, and Frank Guzzetta continues as president and chief executive officer of Hecht's/Strawbridge's.
“Bud has always been an extremely accomplished and respected leader within May,” said Gene S. Kahn, May's chairman and chief executive officer. “His 'can-do' attitude, creativity, and professionalism are hallmarks of his career.”
Mr. Kahn continued, “Ken's enthusiasm, dedication, and work ethic during his career with May have made him an outstanding retail executive. He has made many long-lasting contributions during his career and is highly regarded at every division he has served.
“In celebrating nearly 35 years of service each, both of these executives have contributed mightily to May's success. They will be missed by all of us.”
Commenting on the promotions of Mr. Clausing and Mr. Harper, John L. Dunham, May's president, said, “Rich and John are talented and dynamic executives. Rich has 15 years of service with May at both the division and corporate levels, and he and Jane Elfers will make a great team. John brings 20 years of May experience to his new position and will be a great partner with Frank Guzzetta.”
Mr. Clausing, 48, joined May's corporate office in 1988 as director of accounting and was promoted to vice president of corporate accounting and reporting in 1989. He was named senior vice president of finance at the St. Louis-based Famous-Barr division in 1994 and assumed his current position as senior vice president of finance at Lord & Taylor, based in New York, in 2001. Originally from Arlington Heights, Ill., Mr. Clausing received a B.S. degree in accounting from the University of Illinois. He and his wife Amy have two children.
Mr. Harper, 44, joined May in 1983 as an analyst in accounting at Kaufmann's in Pittsburgh. In 1991, he was appointed vice president-controller at L.S. Ayres in Indianapolis and divisional vice president-controller at Famous-Barr in 1992. He joined Hecht's, May's department store division headquartered in Washington, D.C., in 1993 as vice president-controller and was named senior vice president of operations in 1998. He was appointed to his current position of senior vice president of finance in 2001. Mr. Harper is originally from Pittsburgh and received a B.A. degree in both political science and communications, as well as an MBA in finance, from the University of Pittsburgh. He and his wife Janet have two children.
“I am truly pleased that two talented executives with multi-division experience and proven track records are filling these key chairmen positions,” said Mr. Kahn. “Because of their leadership skills, Rich and John will ensure smooth transitions for their respective divisions.”
Mr. Reynolds, 61, joined May in 1969 as an assistant buyer for the Foley's division, based in Houston. After holding increasingly responsible positions in merchandising and operations, he was named divisional vice president of distribution at Foley's in 1983 and senior vice president of operations in 1987. He was named chairman of the L.S. Ayres division in 1990 and chairman of the Kaufmann's division in 1991. He was named president of Lord & Taylor in 1999 and became chairman of Lord & Taylor in 2000. Mr. Reynolds received a B.A. degree in history from Harvard University and is originally from Houston. He and his wife Susan have two grown children.
Mr. Wilkerson, 63, joined May in 1969 as a distribution center manager for the Famous-Barr division. After holding successively responsible positions in operations, he was named vice president and general operations manager at Famous-Barr in 1979 and later that year was named senior vice president and general operations manager. Mr. Wilkerson was named chairman of Famous-Barr in 1985, chairman of the former J.W. Robinson's division in Los Angeles in 1990, and chairman of the consolidated Robinsons-May division 1993. He was named chairman of Foley's in 1996 and became chairman of Hecht's/Strawbridge's in 2000. Mr. Wilkerson is originally from St. Louis and received a B.S. degree in finance from Southern Illinois University. He and his wife Elsa have two grown children.
