Sharper Image Names New Chief Merchant
By Alan Wolf -- TWICE, 7/3/2007
San Francisco — Sharper Image has named May Department Store veteran Andrew Reich as the company’s new merchandising executive VP, succeeding William Feroe.
Reich will assume the post on July 9, and Feroe will leave the company at the end of August.
Reich is a key appointment for novelty CE specialty chain, which has been in a prolonged sales and earnings decline. A recently installed management team, led by CEO Steven Lightman, is attempting to reverse the company’s flagging fortunes with new products, new talent and a new licensing strategy.
“We are excited to announce the addition of Drew Reich and are pleased to have a merchant with Drew’s track record join the Sharper Image team,” Lightman said in a statement. “Drew brings over 20 years of leadership with the May Department Store Co., and we are very fortunate to acquire his deep understanding of merchandising processes, procedures and disciplines, coupled with a career of proven results.”
Lightman added, “Bill Feroe has worked diligently over the past several years to build the brand and the merchandising organization, and we thank him for his many contributions to the Sharper Image.”
Reich was most recently senior VP/general merchandising manager for May Department Store from 2000 until its acquisition by Federated in 2006. Prior to that, his merchandising assignments included electronics, tabletop and stationery VP.
In another executive appointment, Sharper Image named James Sander senior VP, general counsel and corporate secretary, effective immediately. “Jim brings significant public company and SEC legal experience to the company … [and] has acquired a tremendous amount of retail knowledge,” Lightman said.
Sander and Reich will both report directly to Lightman.
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