NEW YORK — Michael G. Archbold, executive vice president and chief financial and administrative officer of Saks Fifth Avenue, has resigned to join Vitamin Shoppe.
Archbold was hired by Saks in 2005 and was slated for a promotion to executive vice president and chief financial officer of Saks Inc., the parent of Saks Fifth Avenue, on May 4. Instead, his last day at Saks will be April 13.
At Vitamin Shoppe, Archbold will be executive vice president, chief operating officer and chief financial officer. Vitamin Shoppe sells vitamins and other health and wellness products.
Stephen I. Sadove, Saks Inc. ceo, said, "Mike made many contributions while at Saks Fifth Avenue, and I wish him well.... We are very fortunate to have a talented and experienced team in place to perform our financial reporting and other financial functions until we fill the Saks Inc." executive vice president/chief financial officer post. Archbold's position at Saks Fifth Avenue will not be filled.
Saks Inc. operates 54 Saks Fifth Avenue stores, 49 Saks Off 5th stores, saks.com and the Club Libby Lu specialty stores.
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