NEW YORK — The panel includes a legendary athlete, a top Wall Street banker and a magazine publisher. The Saks Inc. board has 14 members. They are each paid $30,000 a year, plus $2,000 for attending a board meeting and $1,000 for attending a committee meeting (as a member). They get $750 for participating by phone in a board or committee session. The chair of a committee is paid an additional fee. For example, the chairman of the audit committee gets another $7,500 annually. Directors are reimbursed for their expenses, and each of the non-company directors is given 5,000 shares of restricted stock, according to a filing with the Securities and Exchange Commission.

The board:

Stanton J. Bluestone: He was chairman of the Carson Pirie Scott group, a division of Saks, from February 1998 until retiring in 1999, and from March 1996 until January 1998 he was chairman and chief executive officer of the company. Bluestone served in a variety of executive positions before 1996. He has been a Saks director since 1998 and serves on the audit committee. Bluestone's term was set to expire in 2004, and he faced reelection. He remains a director because Saks Inc. delayed filing its annual report until later this year and did not file a proxy statement.

Robert B. Carter: He is executive vice president and chief information officer of FedEx Corp., which provides transportation, international trade support and supply-chain services to companies around the world. Carter has been a director at Saks since 2004, and he also was up for reelection.

James A. Coggin: Since November 1998, he has been Saks' president and chief administrative officer. Coggin was president and chief operating officer from March 1995 until November 1998. Before taking that job, he held a number of executive positions within the company and at the McRae's Inc. retail division. Coggin has been a director since 1998.

Julius W. Erving: The Hall of Fame basketball star has worked in both the financial world and professional sports. Erving, known as "Dr. J" in his playing days, has been president of the Erving Group, a private investment company, since 1979. He also served as vice president of RDV Sports, a sports management company, from September 1997 until June 2003. Erving is on the boards of The Sports Authority and Darden Restaurants. He has been a director at Saks since 1997. His term was set to expire in 2004.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus