KELLWOOD TAPS WEISSMAN: Richard Weissman has been named president of Miss Dorby, a moderate division of Kellwood Co. Weissman, who brings more than 17 years experience to his new role, will report to Richard Golden, chief executive officer of Miss Dorby, and replaces Kathy Kulik. Most recently, Weissman was president of the dress license for Perry Ellis at Kellwood. He started his new role last month and will be based in New York. Kulik left “to pursue other interests,” according to a company spokeswoman.
This story first appeared in the September 12, 2002 issue of WWD. Subscribe Today.
ARCADIA CONFIRMATION: Arcadia Group PLC chairman Adam Broadbent has recommended that shareholders accept retail magnate Philip Green’s offer of $6.12 a share for the 80 percent of Arcadia Group PLC that Green doesn’t already own, which would value the entire enterprise at about $1.28 billion. The price is 41 percent above Arcadia’s average share price in the year ending Aug. 16, the day before speculation of a Green takeover of Arcadia surfaced, an amount that Broadbent said “represents an acceptable premium, and provides certainty of value today for Arcadia shareholders.” Green has also agreed to pay out a dividend of 6 cents per share for the fiscal year ended Aug. 31. Dollar figures are translated from the pound at current exchange.
SIGNED AND SETTLED: A federal judge in Delaware has approved the $243 million settlement between Donna Karan International and its former shareholders, who had protested the original terms of the company’s buyout by LVMH Moët Hennessy Louis Vuitton announced in December 2000. The preliminary settlement was reached in May 2001, with the approval reached on Tuesday, marking an end to the shareholder suit.