STILL COMMITTED: Carson’s said Thursday that it remains committed to acquiring Younkers, despite Younkers’ rejection of its sweetened $19 per share offer.
Stanton J. Bluestone, president and chief executive officer of Carson’s, said in statement: “We are extremely disappointed with the just-say-no approach which the Younkers board has again chosen to adopt.”
He added that “given the refusal of the Younkers board to meet with us, it is now up to Younkers shareholders to voice their opinion…by tendering their shares and by electing Carson’s slate of three nominees to Younkers’ board of directors.”
NEW PROFFITT PICTURE: Proffitt’s Inc., which a year ago purchased the 28-unit McRae’s chain, named James A. Coggin president, succeeding R. Brad Martin, who remains chairman and chief executive officer.
Coggin was executive vice president. He continues as chief operating officer.
Now with 53 department stores, Proffitt’s said it promoted some key executives to help support its growth. Gary L. Howard and Frederick J. Mershad, former executive vice presidents, were named presidents of the McRae’s and Proffitt’s divisions, respectively. Both are new posts reporting to Coggin and Martin.
Other officers receiving promotions include: James E. Glasscock, who was named corporate executive vice president, chief financial officer and treasurer; Brian J. Martin was named corporate senior vice president and general counsel, and Robert Oliver was promoted to executive vice president of stores for the McRae’s division, based in Jackson, Miss.