Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Kathryn Bufano replaces H.W. McKay Belk, who becomes vice chairman.
Belk Inc. has named Kathryn Bufano president and chief merchandising officer. Bufano replaces H.W. McKay Belk, who is extending a year-long sabbatical as he moves into a new role as vice chairman of the regional department store chain and web retailer.
Bufano, who will continue reporting to Tim Belk, chairman and CEO, has worked as Belk’s president of merchandising and marketing since joining the company in January 2008.
Before joining Belk, Bufano was CEO of Vanity Shops, a 200-store specialty retail chain. She also has held executive merchandising posts with Sears Roebuck and Co., The Dress Barn and Lord & Taylor.
As vice chairman, H.W. McKay Belk will provide the retailer, No. 358 in the Top 500 Guide, counsel on merchandising and vendor relations. He will also continue to serve as a member of the Belk board of directors.
“We are very pleased to announce Kathy Bufano’s promotion to our top merchandising and marketing post,” says Tim Belk. “She’s an outstanding merchant who understands our Southern lifestyle and is providing excellent strategic leadership to enable Belk to deliver the fashion, style and service that our customers expect and deserve.”
Belk operates an e-commerce site at Belk.com as well as 306 stores in 16 Southern states.