Hanover Direct Appoints Charles E. Blue as Chief Financial Officer in Ongoing Strategic Business Realignment Program and Extends
04 November 2003 - 10:01AM
PR Newswire (US)
Hanover Direct Appoints Charles E. Blue as Chief Financial Officer
in Ongoing Strategic Business Realignment Program and Extends
Credit Facility With Congress Financial Corporation Until January
31, 2007 EDGEWATER, N.J., Nov. 3 /PRNewswire-FirstCall/ -- Hanover
Direct, Inc. today announced that Charles E. Blue will succeed
Edward M. Lambert as Chief Financial Officer, effective November
11, 2003, in connection with the Company's ongoing strategic
business realignment plan. Mr. Blue joined the Company in 1999 and
had most recently served Hanover as Senior Vice President, Finance,
a position eliminated by this finance department restructuring. The
Company also announced an extension of its credit facility with
Congress Financial Corporation until January 31, 2007. "First, we
want to thank Ed Lambert for his outstanding leadership and
remarkable contributions to Hanover's restructuring efforts over
the past two years amidst great personal hardships. Second, we are
very pleased to promote Charles Blue to the position of Senior Vice
President & Chief Financial Officer," said Tom Shull, Hanover
Direct's Chairman, President and Chief Executive Officer. "Charles'
four years of senior finance experience at Hanover, broad knowledge
of both industry and Company operations and experience working
closely with Mr. Lambert well-position him to provide financial
leadership as we continue Hanover Direct's turnaround." Mr. Blue is
a 1982 graduate of Lehigh University where he received a B.S.
degree in Business and Economics. Before joining Hanover Direct, he
held the positions of Director of Planning and Treasury for Genesis
Direct, Inc. and Director of Strategic Planning for The Copeland
Companies. Mr. Blue will report to Tom Shull, with an additional
functional reporting line to Brian C. Harriss, currently Executive
Vice President, Human Resources and Legal, who will assume
additional responsibilities as Executive Vice President, Finance
& Administration. The Company also announced that it had
extended its credit facility with Congress Financial Corporation,
which was expiring on January 31, 2004, until January 31, 2007. "We
are pleased," said Mr. Shull, "to announce the extension of our
agreement with Congress Financial Corporation and look forward to
continuing the excellent partnership that Congress and Hanover have
forged throughout our relationship." About Hanover Direct, Inc.
Hanover Direct, Inc. (AMEX:HNV) and its business units provide
quality, branded merchandise through a portfolio of catalogs and
e-commerce platforms to consumers, as well as a comprehensive range
of Internet, e-commerce, and fulfillment services to businesses.
The Company's catalog and Internet portfolio of home fashions,
apparel and gift brands include Domestications, The Company Store,
Company Kids, Silhouettes, International Male, Scandia Down, and
Gump's By Mail. The Company owns Gump's, a retail store based in
San Francisco. Each brand can be accessed on the Internet
individually by name. Keystone Internet Services, LLC
(http://www.keystoneinternet.com/), the Company's third party
fulfillment operation, also provides the logistical, IT and
fulfillment needs of the Company's catalogs and web sites.
Information on Hanover Direct, including each of its subsidiaries,
can be accessed on the Internet at http://www.hanoverdirect.com/.
DATASOURCE: Hanover Direct, Inc. CONTACT: Charles E. Blue, Senior
Vice President of Hanover Direct, Inc, +1-201-272-3412; or Rich
Tauberman of The MWW Group, +1-201-507-9500, for Hanover Direct,
Inc. Web site: http://www.hanoverdirect.com/
http://www.keystoneinternet.com/
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