By  on December 11, 2008

Retail Ventures Inc. has a new chief executive officer and a new challenge as department stores slash prices and push its Filene’s Basement off-price unit to go even lower.

James McGrady, 57, chief financial officer of the company, will add the titles of president and ceo after Heywood Wilansky steps down at the end of January upon expiration of his contract. McGrady continues as a vice president of RVI’s DSW division.

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