Barry's Jewelers Announces Sam Merksamer to Head Up Plan Negotiations; Randy McCullough Promoted to Executive Vice President and Chief Operating Officer
MONROVIA, Calif.--(BUSINESS WIRE)--Jan. 22, 1998--Barry's Jewelers Inc., one of the nation's largest independent retailers of fine jewelry, Thursday announced that Samuel J. Merksamer, president and chief executive officer, will concentrate his efforts on the negotiation of a plan of reorganization, and that Randy McCullough has been promoted to the position of executive vice president and chief operating officer. These moves follow a very successful holiday season and recognize the accomplishments of Barry's management team.
In making the promotion, Merksamer stated: "Our successful holiday season proved that Barry's could operate as a mainstream jewelry retailer, which was a critical step in our efforts to reorganize. Mr. McCullough played a very important role in his capacity as senior vice president of merchandising and he has gained the respect of the company's vendors."
McCullough has more than 25 years of experience in the retail jewelry industry, including more than six years as the president of a retail jewelry chain. In his new role, he assumes the responsibility for the day-to-day operations of the company.
Commenting on the promotion, Merksamer said: "This will give me the opportunity to focus my efforts on the company's reorganization effort. Randy is widely regarded as one of the jewelry industry's experts with years of experience in all aspects, including merchandising, marketing and operations. I look forward to working with him in his new position."
"I am thrilled to have this opportunity," said McCullough. "Sam has assembled one of the finest management teams in the jewelry industry and has led that team, and the company, through a very successful holiday season. As chief operating officer, I plan to build on the company's progress to date and to allow Sam the time needed to get the company out of Chapter 11 as quickly as possible."
Prior to his promotion, McCullough served as the senior vice president of merchandising for the company. Before joining Barry's, McCullough served as the president of Silverman's Factory Jewelers, with headquarters in El Paso, Texas. Under his guidance, Silverman's grew from an unprofitable, seven-store, "mom-'n'-pop" operation, to an 18-store, professionally managed enterprise doing business in 10 states.
McCullough also spent more than 18 years with Marks & Morgan (formerly A.A. Friedman Co.), the nation's ninth-largest retail jewelry chain, then with 121 stores. Beginning as a store manager, McCullough quickly rose through the ranks to become a diamond buyer, general merchandise manager, and, ultimately, the vice president of merchandise and marketing.
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