Saks Incorporated Names Christine Morena EVP of Human Resources

Business Wire, Nov 10, 2006

NEW YORK -- Retailer Saks Incorporated (NYSE: SKS) ("Saks" or the "Company") today announced that Christine A. Morena has been named Executive Vice President of Human Resources for Saks Incorporated effective January 2, 2007. She will report to Steve Sadove, Chief Executive Officer of the Company, and will be based in New York City.

Morena spent her career from 1976 through 2006 with AT&T Inc., where she held various positions of increasing responsibility. Morena most recently served as Senior Vice President of Human Resources for AT&T Corporation, a subsidiary of AT&T Inc., where she was responsible for providing strategic human resources support for 40,000 people in 60 countries. Morena earned her B.S. in Marketing/Finance and her M.B.A. in Marketing from the Stern School of Business at New York University. She also holds a M.A. in Organization Design and Development from The Fielding Institute.

Steve Sadove noted, "Chris Morena will be a great addition to our organization. She has served in a number of important roles at AT&T over the years and has a proven record and a wealth of human resources and consumer experience. She is extremely well respected, and we are fortunate to have an executive of her caliber join our leadership team. Chris will be instrumental in fostering the cultural transformation currently underway at Saks Fifth Avenue and in assuring that we maintain an experienced, innovative, and talented team."

Morena added, "I am so excited about joining Saks. The entire organization is very focused and committed to assuring that Saks Fifth Avenue reaches its potential, and I am eager to be a part of the team that is driving that process."

Morena is replacing Dr. Charles G. Tharp who has held the post of Executive Vice President of Human Resources since early 2006. Sadove commented, "I have worked with Charlie Tharp for several years. Charlie is a remarkable human resources executive and came to Saks on an interim basis at my request. In his year with the Company, he has contributed much to enhancing our culture, our team, and our compensation and benefit plans." Prior to joining Saks, Tharp was a Professor of Human Resources at Rutgers University, and he intends to return to academia upon leaving the Company.

Saks Incorporated operates Saks Fifth Avenue Enterprises (SFAE), which consists of 53 Saks Fifth Avenue stores, 50 Saks Off 5th stores, and saks.com. The Company also currently operates 62 Club Libby Lu specialty stores.