Talbots Announces Appointments to Board of Directors
April 19 2010 - 10:34AM
Business Wire
The Talbots, Inc. (NYSE: TLB) today announced that its Board of
Directors has appointed two new members. Marjorie L. Bowen and
Andrew H. Madsen have been named independent directors, effective
April 16, 2010. The Talbots Board of Directors is now comprised of
six members with five independent directors.
Ms. Bowen, 45, joins Talbots Board of Directors with over 20
years of corporate financial and transactional expertise, and a
significant history of advising boards of directors across a broad
range of sectors. Most recently, she served as a Managing Director
at investment banking firm Houlihan Lokey Howard & Zukin, Inc.,
where she provided transactional and financial advisory services on
a wide range of corporate matters including mergers and
acquisitions, debt and equity reorganizations, governance and
shareholder value maximization. She currently serves on the Board
of Directors and the Compensation and Governance Committees of
Texas Industries, Inc., a publicly traded supplier of heavy
construction materials.
Mr. Madsen, 54, joins the Talbots Board with extensive
hospitality and consumer products expertise. He currently serves as
President and Chief Operating Officer, and member of the Board, of
Darden Restaurants, Inc., a $7 billion publicly traded restaurant
company whose brands include Red Lobster, Olive Garden, LongHorn
Steakhouse, The Capital Grille, Bahama Breeze and Seasons 52. Mr.
Madsen is also a veteran of the consumer products industry, having
begun his career at General Mills, Inc., where he spent more than
12 years in various management capacities.
“We are very pleased to welcome Drew and Marjorie to our Board,”
stated Gary Pfeiffer, Talbots Chairman of the Board. “Drew’s
extensive track record in overseeing the operation, growth and
development of prominent consumer products companies, coupled with
Marjorie’s deep expertise in transactional, financial and
governance matters will be a great addition to the Board as we
embark on the next chapter of growth for Talbots.”
The Talbots, Inc. is a leading specialty retailer and direct
marketer of women’s apparel, shoes and accessories. At the end of
fiscal 2009, the Company operated 580 Talbots brand stores in 46
states, the District of Columbia, and Canada. Talbots brand on-line
shopping site is located at www.talbots.com.
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