BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jan. 11, 1999--Department
store retailer Saks Incorporated (NYSE: SKS) (the "Company") announced
William E. Haslam will join the Company on February 1, 1999 as
President of E-Strategies for Saks Incorporated and as Special
Consultant for Long-Range Planning for the Company. Haslam will report
directly to James A. Coggin, President and Chief Administrative
Officer of Saks Incorporated.
Haslam joined Pilot Corporation in 1980 and has served as
President since 1994. Pilot is a national retail operator of
convenience stores and travel centers, currently operating 156
facilities in 36 states with annual sales in excess of $2 billion.
Pilot is a privately-held company founded in 1958 and is headquartered
in Knoxville, Tennessee. Haslam is a graduate of Emory University in
R. Brad Martin, Chairman and Chief Executive Officer of Saks
Incorporated, commented, "Saks Incorporated has grown rapidly and
achieved much success during this extraordinary growth phase. Now that
we have built one of the major retail enterprises in the United
States, it is appropriate to take a longer-term view of our industry,
our Company, and our operations and to do so as part of a
comprehensive process which involves all aspects of our corporation.
"We are very fortunate that Bill Haslam will join our Company to
lead the day-to-day execution of our critical long-range planning
process. For seven years, I have served as a member of the Board of
Directors of Pilot Corporation and have worked closely with Bill in
this capacity. Bill's innovative leadership has contributed
substantially to the remarkable growth and success of Pilot, and his
intellect, management skills, business acumen, and strategic
perspective make him the appropriate person to head this important
Martin continued, "At Saks Incorporated, we are quite aware of
potential internet-related applications which exist for our business
through this emerging medium, including opportunities for business
process improvement and more effective marketing and communication
with our customers. Developing such applications will be an integral
part of our long-range planning initiative.
"We believe there are specific internet-related retailing
strategies that are appropriate for our Company. I am convinced that
the long-term competitive viability of an internet-based retail
concept will rely heavily on the power of its brand. Because of the
authority and appeal of the Saks Fifth Avenue brand, developing
electronic commerce opportunities will be an important focus for Saks
Coggin noted, "We are delighted that Bill will join the Saks
Incorporated team. Bill's background and business experience make him
a great fit for our corporation and the ideal person to lead the
critical areas of long-range planning and electronic commerce."
Haslam commented, "I have had a very exciting and rewarding
career with Pilot Corporation, and I will maintain my investment in
the company and continue to serve on Pilot's Board of Directors. I am
extremely excited to become a senior member of the Saks Incorporated
team and look forward to the tremendous challenges and opportunities
that exist in the areas of long-range planning and electronic commerce."
Saks Incorporated currently operates over 345 department stores
and 4 free-standing furniture stores under the names of Saks Fifth
Avenue, Proffitt's, McRae's, Younkers, Parisian, Herberger's, Carson
Pirie Scott, Bergner's, Boston Store, and Off 5th. The Company also
operates two direct mail businesses, Folio and Bullock & Jones. Saks
Incorporated's annual revenues exceed $6 billion.
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