Neiman Marcus Group has named Michael Fung interim chief financial officer and chief operating officer, succeeding Donald T. Grimes, who recently joined Sally Beauty Holdings.
Fung was the interim cfo and treasurer for 99 Cents Only Stores and currently serves on its board. Earlier, he spent 11 years at Wal-Mart Stores Inc., where he served as cfo for Wal-Mart U.S. and senior vice president of global procurement and internal audit. He was responsible for implementing Wal-Mart’s financial and procurement system. Earlier in his career, he held positions at Sensient Technologies, VanStar Corp., Bass Pros Shops, Beatrice Companies and Deloitte & Touche.
Karen Katz, president and chief executive officer of Neiman Marcus Group, characterized Fung as “an accomplished leader who brings extensive experience in corporate finance, strategy, financial planning and analysis, logistics and operations to NMG.”
Grimes in mid-November joined Sally Beauty Holdings as senior vice president, cfo and chief operations officer.