Pier 1 hires TJX exec
By Furniture Today Staff -- Furniture Today, February 4, 2007
Fort Worth, Texas — Specialty retailer Pier 1 Imports has named veteran retailer and recent TJX executive Alex Smith president and CEO, effective Feb. 19 when current Chairman and CEO Marvin Girouard is set to retire.
Tom Thomas, a Pier 1 director, will become non-executive chairman.
Smith most recently was senior executive vice president-group president for TJX Cos., and "spent a significant part of his early career on the merchandising side for department and specialty stores," Thomas said.
Since 1995, Smith has held leadership posts including president of TK Maxx in the United Kingdom, and executive vice president-international. "He has the understanding of the retail
industry in North America and globally to lead the company," Thomas said.
Smith's contract with Pier 1 calls for a $1 million base salary, a first-year bonus between $500,000 and $750,000 at the board's discretion, and stock option grants to buy 3 million shares of Pier 1 stock.
The board praised Girouard for his 32-year tenure. "We are very grateful for his commitment to the company, for his years of leadership and for the class which he brought to his service as an executive," Thomas said.
-
Pier 1 names new CEO
Jan 30, 2007
Specialty retailer LoveSac introduces new store design
Kincaid Furniture honors Jimmy and Rosalynn Carter for Habitat work
Belfort Furniture, Lawrance Furniture are NHFA Retailers of Year
Singapore furniture show expecting increased turnout
Furniture, mattress sales boost Conn's sales 37.6% in recent quarter
Featured Company
-
FurnitureCore.com
FurnitureCore.com is a dynamic web application aimed at the furniture industry. Retailers and manufacturers alike will find our deep reserve of tools to be exactly what their furniture business needs.www.furniturecore.com... more
VIEW ALL GALLERIES
