Caldor Taps Executive With Turnaround Experience
NORWALK, Conn. (AP) _ Caldor Corp. on Monday tapped as its chief financial officer a business executive with experience helping another retailer emerge from bankruptcy.
John G. Reen, 46, was also named executive vice president and appointed to the board of directors of Caldor, which sought Chapter 11 bankruptcy protection in September.
Reen is a former executive vice president, chief financial officer and member of the board of directors of Hills Stores Co. of Canton, Mass.
He played a key role in Hills Stores’ successful emergence from bankruptcy in 1993, said Don R. Clarke, chairman and chief executive of Caldor.
``By adding Jack Reen to our management team, we gain a highly skilled, experienced executive who has a successful track record of accomplishing the very tasks that lie ahead for Caldor,″ Clarke said.
Reen joined Hills Stores in 1976. He succeeds Robert S. Schauman, who is leaving Caldor to move to the St. Louis area, the company said.
Caldor, a discount department store chain, has annual sales of about $2.8 billion and 166 stores in 10 East Coast states.