May Stores’ Chairman Loeb Retiring
ST. LOUIS (AP) _ Jerome T. Loeb plans to retire in April as chairman of May Department Stores Co. and will be succeeded in the post by chief executive Eugene S. Kahn, the retailer announced Thursday.
Loeb, who was named chairman in 1998, will step down on April 30 after 37 years at the chain which operates 550 department and bridal stores. He is 60.
Kahn, 50, will continue as chief executive after taking the chairman post but will relinquish his title as president. John L. Dunham, vice chairman and chief financial officer, will become president. Thomas D. Fingleton, executive vice president, will assume the additional title of chief financial officer.
Loeb joined May in 1964 at the Famous-Barr division. He was promoted to president in 1993 after serving in various executive positions with the chain.
Kahn joined the G. Fox division as president and chief executive in 1990. He was promoted to president and chief executive of May in 1998.
Dunham, 54, was named executive vice president and chief financial officer in 1996 and was elected to May’s board in 1997. Fingleton, 53, was named executive vice president, finance and operations in 2000.
May currently operates 427 department stores and 124 David’s Bridal stores in 43 states, the District of Columbia and Puerto Rico.