NEW YORK -- Patty Payne has resigned as vice president of cosmetics at Federated Merchandising, effective March 31.

No successor has been named.

Payne, who has served in the post since 1991, said she wants to spend more time traveling with her husband, Fred Green, whom she married in November. He owns an arbitrage business.

Payne began her retailing career with Federated in 1977 as an executive trainee at Bullock's. She has since held a variety of positions, including senior vice president and general merchandise manager at Rich's.

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