In Brief

Ullman Tapped for Fed Board... Baugur Bid Spurned... Paley Joins Talbots...

• ULLMAN TAPPED FOR FED BOARD: J.C. Penney Co. Inc. chairman and chief executive officer Myron E. “Mike” Ullman 3rd has been named to the board of the Federal Reserve Bank of Dallas. “Mike is on the front lines of a highly significant segment of the economy,” said Richard W. Fisher, president and ceo of the Dallas Fed. “His perspective on current and future trends in consumer spending will be invaluable to this bank and its contributions to making monetary policy.” Ullman also serves on the board of Starbucks Corp. and Pzena Investment Management Inc.

This story first appeared in the August 19, 2008 issue of WWD.  Subscribe Today.


• BAUGUR BID SPURNED: British retailer Woolworths plc rejected a Baugur Group-backed takeover bid over the weekend. A consortium headed by Malcolm Walker, chief executive and founder of Baugur-owned frozen-goods retailer Iceland, made an offer for Woolworths’ retailing arm. Baugur already owns a 10 percent stake in Woolworths, which also has an entertainment products distribution business. “The proposal has been rejected on the grounds that it involved a complex restructuring, which in practical terms is not achievable,” stated Woolworths’ board. Baugur’s fashion and retailing portfolio includes stakes in Saks Fifth Avenue, French Connection and Debenhams, among others.


• PALEY JOINS TALBOTS: As part of its strategy to have a direct link to the New York fashion scene, The Talbots Inc. has tapped Meredith Paley as vice president, public relations. She is based in the company’s New York design office. Paley reports to John Fiske, executive vice president of human resources and administration of Talbots. Fiske said Paley “will be instrumental as we continue to rebuild the Talbots brand as the leading retail destination for the 35-plus female consumer.” Most recently, Paley was group vice president of public relations and public affairs at Kenneth Cole Productions Inc., a post she held for nearly eight years.