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Pier 1 wins court order to hire new CEO

By Furniture Today Staff -- Furniture Today, February 18, 2007

Fort Worth, Texas — Pier 1 Imports won a temporary restraining order against TJX Cos. last week to clear the way for a former TJX executive to join Pier 1 as its new president and CEO.

The order from a state court stops Framingham, Mass.-based TJX from filing any judicial proceeding against Alex Smith, other than seeking arbitration with the American Arbitration Assn.

Pier 1, based in Fort Worth, sought the order to end what it said was TJX's interference in hiring Smith, who is replacing retiring CEO Marvin Girouard.

Pier 1 said TJX was threatening legal action against Smith, suggesting in a press release that Smith had a non-compete agreement with his former employer. Pier 1 said the two companies aren't competitors.

A TJX spokesperson declined to comment. TJX operates retailers including T.J. Maxx and Marshalls, selling products ranging from clothing and gifts to furniture, accessories and lamps.

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