US: Talbots' new owner names executive team
Sycamore Partners has completed the acquisition of troubled women's wear chain The Talbots and appointed a new executive management team.
The company has named Michael Archbold as CEO and CFO. He joins the company from the Vitamin Shoppe, where he was COO. He has also held senior roles at Saks, and AutoZone.
He replaces former CEO and president Trudy Sullivan, who revealed plans to leave the company in December last year.
Lizanne Kindler, who was previously executive vice president of product development at Kohl's Department Stores, has been named president. A former executive vice president at Talbots, she will be responsible for product development, merchandising and marketing.
And Michele Mandell, a 26-year veteran of Talbots and formerly the executive vice president of stores at the company, has been appointed COO.
"Talbots is a classic, American fashion retail brand with a strong foundation and an iconic reputation in women's retail," said Archbold.
"By restoring the company's focus on Talbots' classic styling, we will be able to reconnect with the company's historical customer base.
"Lizanne, Michele and I look forward to working closely with the other members of the Talbots' leadership team and the Company's more than 8,000 committed and hard-working associates to re-establish the brand as the category leader."
He added that the team could not have a better partner than Sycamore. "Their knowledge of the retail sector is unparalleled."
Talbots headquarters will remain in Hingham, Massachuetts and the company expects to maintain all of its other offices.
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