MELVILLE’S HUTH EXITING AS CFO
NEW YORK — Melville Corp. said Friday that Robert D. Huth, chief financial officer, will leave the company March 31 and will be succeeded by Gary Crettenden.
Crettenden, senior vice president of corporate development, added the acting chief financial officer title.
Melville recent results have been weakened due to soft performances by Marshall’s, its off-price division, and Wilson’s, its leather goods chain. Moody’s Investor Service downgraded Melville’s debt rating last week, saying it expected competition to continue pressuring margins at Marshall’s.