PAMELA GOODMAN LEAVES PRESIDENT’S POST AT LERNER
NEW YORK — The Limited Inc. said Thursday that Pamela Goodman has resigned as president of its Lerner New York division and that Michael Weiss, vice chairman, will oversee the chain until a successor is named.
The resignation comes at crucial time for the $1 billion Limited division. Goodman had been leading a repositioning of the long-struggling Lerner’s chain, attempting to give it more of an identity by improving the quality of the merchandise while keeping its budget price points and defining the customer as a working woman in the 35- to 55-year-old range. Over the past year, Lerner’s developed a higher profile and began staging fashion shows for the press.
“This resignation follows the completion of an independent review, under the company’s code of business conduct, of certain conflict of interest issues arising out of Ms. Goodman’s marriage,” Leslie H. Wexner, chairman and chief executive officer, said in a statement. Wexner said the review discovered “neither any misconduct nor any adverse impact on the business” and that The Limited will continue to do business with Channel Textiles.
Goodman last year married Barry Goodman, president of Channel Textiles, which is a major supplier to Lerner’s and other Limited divisions.
One possible successor to Goodman is Sally Pearson, Lerner’s executive vice president for merchandising. She joined Lerner’s last June and is a former Saks Fifth Avenue merchant. Goodman became Lerner’s president in February 1995.