The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N))
News Release -
2-Feb-2009
Robert L. Mettler and Margaret H. Georgiadis Elected to the Jones Apparel Group, Inc. Board of Directors NEW YORK, Feb. 2 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
(NYSE: JNY) today announced that Robert L. Mettler and Margaret H. Georgiadis
have been elected to the Jones Apparel Group, Inc. Board of Directors.
Mr. Mettler retired from Macy's, Inc. at the end of last month, where he
had been serving the past year as President for Special Projects, reporting to
Macy's chief executive officer. Prior to taking on that assignment, he was
President and Chief Operating Officer and then Chairman and Chief Executive
Officer of Macy's West from 2000 to 2008. His tenure at Macy's West was marked
by the elevation of that business to be among the most fashionable and
successful of the better department store groups in the United States. Prior
to joining Macy's, Mr. Mettler served in several very senior capacities with
Sears, Roebuck & Co., and the former May Company and Allied Stores
Corporation.
Mr. Mettler serves as a Trustee of the University of Virginia, and is on
the Board of the National Jewish Medical and Research Center in Denver, the
Retail Advisory Board at the University of Santa Clara and the Board of
Governors of the San Francisco Symphony.
Ms. Georgiadis was most recently Executive Vice President of Card Products
and Chief Marketing Officer, and a member of the Executive Committee of
Discover Financial Services. She was responsible for all card products and
services in the United States, and played a key role in driving the overall
strategy of Discover, with responsibility for the Discover brand. Prior to
joining Discover in 2004, she was a Partner at McKinsey & Company in the
London and Chicago offices, where she was a co-leader of the Marketing and
Retail practices, and co-founded and led the Customer Acquisition and
Management and Retail Marketing practices.
Ms. Georgiadis recently became a Principal of Synetro Capital, LLC, a
private investment firm based in Chicago, focused on building new businesses
and helping fund and revitalize the growth of mature businesses. She also
serves on the Board of Directors of North Shore University Health Systems, a
leading academic health care system in Northern Illinois, the Music Institute
of Chicago, The Chicago Network, and the Chief Marketing Officer Council.
J. Robert Kerrey, Presiding Director, and Sidney Kimmel, Chairman of the
Board, commented: "On behalf of the Jones Apparel Group Board of Directors and
the entire management team, we want to welcome Bob Mettler and Margo
Georgiadis. Each brings a wealth of experience, both from within our industry
and beyond, that is very complimentary to the backgrounds of our existing
Board members."
Including Mr. Mettler and Ms. Georgiadis, seven of the ten directors are
deemed to be independent directors under the Company's Director Independence
Standards, which appear on the Company's website, www.jonesapparel.com (under
the "Our Company - Corporate Governance" caption).
Jones Apparel Group, Inc. (www.jonesapparel.com) is a leading designer,
marketer and wholesaler of branded apparel, footwear and accessories. The
Company also markets directly to consumers through its chain of specialty
retail and value-based stores. The Company's nationally recognized brands
include Jones New York, Nine West, Anne Klein, Gloria Vanderbilt, Kasper,
Bandolino, Easy Spirit, Evan-Picone, l.e.i., Energie, Enzo Angiolini, Joan &
David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Albert Nipon and
Le Suit. The Company also markets costume jewelry under the Givenchy brand
licensed from Givenchy Corporation, footwear under the Dockers Women brand
licensed from Levi Strauss & Co., and apparel under the Rachel Roy brand
licensed from Rachel Roy IP Company, LLC. Each brand is differentiated by its
own distinctive styling, pricing strategy, distribution channel and target
consumer. The Company contracts for the manufacture of its products through a
worldwide network of quality manufacturers. The Company has capitalized on
its nationally known brand names by entering into various licenses for several
of its trademarks, including Jones New York, Anne Klein New York, Nine West,
Gloria Vanderbilt, l.e.i. and Evan-Picone, with select manufacturers of
women's and men's products which the Company does not manufacture. For more
than 30 years, the Company has built a reputation for excellence in product
quality and value, and in operational execution.
SOURCE Jones Apparel Group, Inc.
CONTACT: Investors, John T. McClain, Chief Financial Officer of Jones
Apparel Group, +1-212-642-3860; or Media, Joele Frank and Sharon Stern of
Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449
Web Site: http://www.jonesapparel.com
(JNY)
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