PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Chief financial officer Mark Bierley takes on the additional responsibilities.
Borders Group Inc. has announced that chief financial officer Mark Bierley will add the title of chief operating officer. Borders Group Inc. is the parent company of Borders Inc., which sells books and music through stores and online.
In his dual roles as chief financial officer and chief operating officer, he will oversee supply chain, merchandising planning, I.T. and finance.
It’s the latest in a series of changes at Borders. Since May private equity firm Vector Group Ltd. has invested $25 million in Borders Group, Vector Group head Bennet LeBow was named Borders Group CEO and Mike Edwards was named president and CEO of Borders Inc.
“Mark has been an exceptional CFO in what has been a difficult and change-heavy environment at Borders,” says Edwards. “He's successfully led two financing programs that have strengthened the company's financial position and he's helped oversee the planning and execution of a number of key strategic initiatives. Mark is well respected in the financial community and has been vital in establishing ongoing positive relationships with our banking and vendor partners. I look forward to working with Mark in his new role where I know he'll leverage both his knowledge and talents to rebuild the Borders brand.”
Bierley was named executive vice president and chief financial officer in January 2009. Before that he held several other positions at the retailer, including director, inventory control and manger, store inventory control.
Borders, No. 194 in the Internet Retailer Top 500 Guide, also named Rosalind Thompson senior vice president, human resources for Borders Group.
"Roz is a strong leader with an outstanding ability to develop a culture of highly talented and focused employees,” says Edwards. “She's adept at integrating human resources strategy with business plan objectives to create a competitive advantage.”
Thompson previously worked as a principal at human resources consultancy Orange Hill Associates. She has also worked as chief human resources officer for apparel retailer Dots LLC, executive vice president, human resources at Jo-Ann Stores.