The Limited™ Creates Interim Office of the President
COLUMBUS, Ohio, Feb. 13, 2013
COLUMBUS, Ohio, Feb. 13, 2013 /PRNewswire/ --National fashion retailer The
Limited™, a heritage brand for the modern, working woman, today announced that
its Board of Directors has established an interim Office of the President to
manage the day-to-day operations of the business. The interim office will be
filled by three current executives, John Buell, Executive Vice President and
CFO; Nicolas Frechette, Senior Vice President and General Merchandise Manager;
and William Acevedo, Senior Vice President of Stores; who will report to the
Board of Directors.
The Limited has launched a nationwide search for a new Chief Executive Officer
to succeed Linda Heasley, who joined in 2007 and is stepping down to pursue
other interests effective February 15, 2013.
"The Board is very grateful to Linda and the management team for the passion
and commitment they have demonstrated at The Limited," said T. Scott King,
Chairman of the Board of The Limited. "The Company has made major strides
during Linda's tenure, and we wish her the very best in her future endeavors."
Buell, Frechette and Acevedo will partner to provide ongoing leadership and
continuity for the business. All three bring deep experience and strong
knowledge of The Limited and the retail sector.
John Buell oversees financial matters. Buell joined The Limited in 2003, from
Sears, Roebuck and Co., where he was most recently Vice President of Corporate
Planning and Analysis. In this role, he managed enterprise-wide planning and
an analysis of the company's capital budget, real estate finance and IT
budget. He previously held several finance positions during 15 years with the
Frechette is in charge of merchandising. Prior to joining The Limited in 2012,
Frechette was Vice President of Global Retail Merchandising at BCBG Max
Azaria, where he was responsible for global merchandising strategy for all
brands, as well as sales goals and profitability for all departments.
Previously, Frechette held the positions of Director of Global Merchandising,
and Director of Retail.
Acevedo is responsible for managing all company operations. Acevedo came to
The Limited in 2011, after serving as Vice President, Outlets at Fossil where
he had oversight of a 70-unit business, and guided development of the store
experience for a multi-brand concept, on a global basis. Before Fossil, he was
Executive Vice President and Chief Stores Officer at Zale Corporation, where
he was responsible for all financial, strategic, operating and leadership
components for 1,900 retail locations. Prior positions include Vice President,
Stores at Banana Republic and Senior Vice President, Regional Director of
Stores for Macy's East.
"John, Nicolas and William are dedicated executives who have been instrumental
to the development of The Limited," added King. "The Board is confident that
the company is well positioned for success, and will continue to make progress
against our strategic plan under their leadership during this interim period."
About The Limited
Building on its 50 years of leadership in American shopping centers, The
Limited is an iconic fashion retailer that offers high-quality, private-label
apparel designed to help our clients succeed. Design-driven, fashionable
styles include suiting, sweaters, dresses, denim, outerwear, and
accessories—to suit her lifestyle demands, from workday to weekend. The
Limited has 257 mall locations throughout the United States. For more
information, please visit: www.thelimited.com. "Like" us on Facebook, or
follow us on Twitter @TheLimited and Pinterest.
SOURCE The Limited
Contact: Tom Faust, +1-646-502-3513, firstname.lastname@example.org
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