The Men's Wearhouse Inc.
) has recently announced that effective August 2, 2012, Neill P.
Davis will no longer serve as the executive vice president and
chief financial officer (CFO) of the company. Davis resigned from
his current position in Men's Wearhouse to join
Francesca's Holdings Corporation
) as president.
This will not be Davis' first association with Francesca's
Holdings, a women's specialty retailer. He has been serving the
company's board as a director since 2007. At Francesca's Holdings,
a post has been created to welcome Davis who will directly report
to chief executive officer John De Merit. Davis will remain a
director at Francesca's even as he assumes the new position as
Concurrently, Men's Wearhouse has appointed its present
executive vice president, Diana Wilson, as the new CFO on an
interim basis. The company will be on the lookout for a permanent
CFO. After in March 1999 as Corporate Controller, Wilson has held
an array of managerial positions in the organization. She holds a
nine years of experience as chief accounting officer with Men's
Wilson's most recent role was to supervise the company's U.K.
corporate apparel operations since the acquisition of Dimensions
and Alexandra in August 2010. Considering the vast know-how in
public accounting, we remain optimistic on Wilson's on-probation
appointment. As an interim CFO, Wilson will closely monitor
investor relations and assist the company's vice chairman and
erstwhile CFO, David Edwab.
One of North America's largest specialty retailers of men's
apparel also divulged other managerial changes. The present vice
president, finance and accounting, Kelly Dilts will serve as the
chief accounting officer.
Men's Wearhouse, which competes with the likes of
Collective Brands Inc.
) currently, retains a Zacks #4 Rank that translates into a
short-term Sell rating. We are maintaining our long-term Neutral
recommendation on the stock.
FRANCESCAS HLDG (FRAN): Free Stock Analysis
MENS WEARHOUSE (MW): Free Stock Analysis Report
COLLECTIVE BRND (PSS): Free Stock Analysis
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