Ross Stores Inc.
) disclosed the promotion of Michael Hartshorn to the position of
Chief Financial Officer (CFO). Hartshorn will continue holding
the post of Senior Vice President, besides taking on
responsibilities of the CFO starting Feb 2, 2014.
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With a career spanning over 24 years, Hartshorn began with the
audit practice team of Coopers and Lybrand, an accounting company
and worked for 3 years after which he served the May Department
Stores Company for 7 years, holding several financial positions.
Hartshorn has been associated with Ross Stores for 14 years, when
he joined as Director and Assistant Controller and since then he
has held several important positions in the company's IT, Finance
and supply-chain departments. Most lately, he served the company
as Deputy CFO and Senior Vice President. Preceding this, he was
Group Vice President, Finance and Treasurer for 10 months and
Vice President, Finance and Treasurer for almost 5 years.
Hartshorn has worked with the IT and supply-chain department for
4 years beginning 2002, stressing on channelizing strategies and
other business initiatives.
After taking over his new role as the CFO, Hartshorn will lead
the treasury, accounting, risk management, tax, financial
planning and investor relations departments of the company. He
will continue to work under the company's Finance and Legal Group
Senior Vice President and Corporate Secretary, John Call, who has
also served as CFO of Ross Stores for the last 16 years.
With his credible management qualities, know-how about his field
of work, financial proficiency and Call's leadership in the
financial and legal operations, Hartshorn is expected to guide
the company to new heights.
Ross Stores, a California- based company, operates as an
off-price retailer of apparel and home accessories, primarily in
the U.S. The company operates its stores under the Ross Stores
Dress for Less (Ross Stores) and dd's DISCOUNTS names. The
company mainly targets moderate- middle income households.
In order to keep itself on the growth trajectory, the company is
focused on merchandising organization through investments in
workforce, processes and technology. The company continually fine
tunes and upgrades its systems and processes to enhance
Ross Stores Stores currently has a Zacks Rank #4 (Sell).
Better-ranked stocks in the retail space include
Christopher & Banks Corporation
Finish Line Inc.
Abercrombie & Fitch Co.
). While Christopher & Banks holds a Zacks Rank #1 (Strong
Buy), Finish Line and Abercrombie & Fitch carry a Zacks Rank