Retail Industry
Industry: Email Alert RSS FeedZimmerman given helm at Federated.(James Zimmerman, Federated Department Stores Inc.)
Footwear News, January, 1997 by Moin, David
Federated Department Stores Inc. will replace CEO Allen Questrom with James Zimmerman in May, 1997. Questrom announced his resignation in a surprise move, stating that since Federated is now out of financial trouble he is no longer needed. Questrom spearheaded Federated's recent acquisitions. Terry Lundgren will become Federated's president in May 1997 as well; he plans to increase private-label merchandise at the chain.
NEW YORK -- Allen Questrom, the man who pulled Federated Department Stores Inc. from the pit of bankruptcy, then helped engineer the biggest retail merger in history, dropped a bombshell Thursday by announcing he will resign in May.
In what is widely seen as a smooth passing of the baton, Questrom, the charismatic chairman and chief executive...
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