NEW YORK (AP) - Apparel and accessories retailer Saks Inc. on Tuesday said it named Kevin G. Wills executive vice president and chief financial officer, effective May 4.
The company announced earlier this month that its chief financial officer designate, Michael G. Archbold, decided to become CFO of The Vitamin Shoppe, a vitamin retail chain.
Wills, 41, is currently the company's executive vice president of finance and chief accounting officer. He will replace Douglas A. Coltharp, 45, who in October announced his resignation, effective May 4, because he 'elected not to relocate to relocate to New York City for personal reasons' from his base in Birmingham, Ala. Wills had announced his resignation in October as well, citing refusal to relocate, but reconsidered, the company said.
Saks operates 54 Saks Fifth Avenue stores, 49 Saks Off 5th stores and saks.com, as well as Club Libby Lu specialty stores.
Company stock fell 8 cents to $20.23 in afternoon trading on the New York Stock Exchange.
Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.