SME(svcdq) has it bottomed out yet? Or will it hit bottom? Message Board

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Non-Tech : SME(svcdq) has it bottomed out yet? Or will it hit bottom?

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To: christopher who wrote ()	1/29/1998 5:06:00 PM
From: leigh aulper	of 305

SERVICE MERCHANDISE CHAIR RAYMOND ZIMMERMAN TO RETIRE; BOARD MEMBER JAMES POOLE SELECTED AS BOARD CHAIRMAN Nashville, Tenn.--(BUSINESS WIRE)--Jan. 29, 1998--In anticipation of Raymond Zimmerman's planned retirement, Service Merchandise Company today announced his resignation as chairman. Zimmerman's retirement as an employee will occur as planned in April, 1998. He will remain a Board member. Board member James E. Poole has been selected to succeed Zimmerman as Board Chairman. Poole is President of Poole Enterprises of Nashville and has served as a member of the Board since 1983. He is also past Chairman and President of the Marquette Company and Gulf & Western Natural Resources Group. "Raymond's career has been remarkable. For decades, he has personified Service Merchandise, acting as the driving force behind the company's tremendous accomplishments," said Poole. "We know he'll approach his retirement with the same passion and success he brought to the business of Service Merchandise." Poole added, "I am excited about the prospects of working with Gary Witkin and the management team as they implement his strategic vision for the Company." "Raymond has been a powerful mentor over the past three years, providing the guidance and giving me the confidence necessary for us to move forward," said Chief Executive Officer Witkin. In 1997, the Company implemented a number of strategic initiatives designed to revitalize merchandising, marketing and the customer shopping experience.

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