Experienced management--just what they needed
MONROVIA, Calif.--(BUSINESS WIRE)--Feb. 14, 1997--Barry's Jewelers Inc. (NASDAQ/NM:BARY) Friday announced that it has appointed Sam Merksamer president, chief executive officer and director of the company.
Merksamer has served as CEO of Merksamer Jewelers sinc 1979, building it from a five store family-held chain, with headquarters in Sacramento, Calif., into a national firm operating 49 stores. In June 1996, the company was sold to Fred Meyer Jewelry Inc.
Commenting on Merksamer's appointment, Barry's chairman of the board, William Eberle, said: "I am extremely pleased to have Sam join our team. Over the course of his career, he has been able to demonstrate his merchandising, marketing and financial management strengths, which resulted in building Merksamer Jewelers into an industry leader in store sales and profitability."
Eberle also noted that Merksamer would be purchasing 200,000 shares of Barry's stock.
Merksamer said, "I look forward to the challenge and opportunity to lead the restructuring program at Barry's and develop it into a strong and successful national jewelry retailer."
The company also announced the resignations of Robert Bridel, president, chief executive officer and a director, and Thomas Liston, vice chairman, chief financial officer and a director. Eberle commented, "I want to thank Robert Bridel and Tom Liston for their service to our company and wish them well."
Barry's Jewelers, one of the nation's largest independent retailers of fine jewelry, operates 169 retail stores in 18 states throughout the country, primarily in California, Texas, Arizona, North and South Carolina, Utah, Montana, Colorado, Ohio and Indiana.
BW1005 FEB 14,1997 |
