USA: Stage Stores Names New President and CEO

Stage Stores Inc announced today the appointment of James Scarborough as its new president and chief executive officer. "Jim is a strong leader who will help the company re-establish itself as a premier retailer of brand name apparel in small town America. Jim has a tremendous background in the retail industry and is intensely concerned about customer service and satisfaction," said Jack Wiesner, chairman of the board of directors. "We believe that, through his innovation, motivation and leadership, our company will be able to better anticipate and meet our customers' needs." Scarborough's responsibilities will include the overall strategic, merchandising, marketing, operational and financial leadership of the company. In this position, Scarborough will work directly with senior executives and the board of directors. "I'm looking forward to the challenge of making this company prosperous again," Scarborough said. "We have to refocus on what has made this company successful in the first place, and that is delivering quality, brand-name family apparel to communities and small towns across America."Prior to joining Stage Stores, Scarborough served as the president and CEO of Busy Body Inc, a specialty retailer of fitness equipment, after holding the same positions with Seattle Lighting Inc. Since Stage Stores is currently in reorganization under the protection of Chapter 11 of the US Bankruptcy Code, Scarborough's employment contract will be submitted to the US Bankruptcy Court in Houston. Wiesner will continue to work with Stage in the role of non-executive chairman of the board of directors and will oversee the company's bankruptcy proceedings. Stage Stores Inc brings nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family to small towns and communities throughout the United States. The company operates more than 470 stores in 20 states, primarily under the Stage, Bealls and Palais Royal names.