— Home Accents Today,
\nWill resign from the Board<\/p>\n
FORT WORTH, Texas \u00e2\u20ac\u201d James Carreker will step down as The Bombay Company\u00e2\u20ac\u2122s CEO and will resign from the board when his contract expires on June 3, the specialty retailer said Monday.<\/p>\n
<\/p>\n
Bombay, which had said earlier that Carreker\u00e2\u20ac\u2122s contract would not automatically be renewed, said a search continues for a replacement CEO. If one isn\u00e2\u20ac\u2122t found by June 3, an executive committee led by Steve Woodward, executive vice president, will manage the company\u00e2\u20ac\u2122s operations until a new leader is named.
\n<\/p>\n
Nigel Travis, Bombay\u00e2\u20ac\u2122s lead director, thanked Carreker for his work the past three years.<\/p>\n
\u00e2\u20ac\u0153He initiated the repositioning of the company\u00e2\u20ac\u2122s stores, infrastructure and merchandise assortment, all important strategic changes necessary to create long-term shareholder value. The company must now rebuild positive sales momentum and a sustained market position in a continuing difficult environment,\u00e2\u20ac\u009d Travis said.
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\nCarreker thanked Bombay\u00e2\u20ac\u2122s board, management and employees.<\/p>\n
\u00e2\u20ac\u0153Difficult decisions were made, such as rapidly moving a large number of our stores off-mall, that were disruptive to our business and customers, but were necessary for Bombay\u00e2\u20ac\u2122s future growth and success,\u00e2\u20ac\u009d he said.<\/p>\n
In the fiscal year ended Jan. 28, Bombay posted a $46.7 million loss as sales dipped 1.9% from the previous year to $565.1 million. The loss included $29.1 million in noncash and other charges, mainly related to an accounting change involving the valuation of deferred taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"
— Home Accents Today, Will resign from the Board FORT WORTH, Texas \u00e2\u20ac\u201d James Carreker will step down as The Bombay Company\u00e2\u20ac\u2122s CEO and will resign from the board when his contract expires on June 3, the specialty retailer said Monday. Bombay, which had said earlier that Carreker\u00e2\u20ac\u2122s contract would not automatically be renewed, said […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-685","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=685"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/685\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}