NEW YORK — Sources say The Warnaco Group Inc. has found its new chief financial officer.
The company is expected to disclose, possibly today, that it has hired Lawrence Rutkowski as senior vice president and chief financial officer.
Rutkowski most recently was executive vice president and cfo of Primedia, the troubled media firm that has been selling off assets to reduce its debt, putting New York magazine on the block just last week, as reported.
Rutkowski followed former Primedia chief executive Tom Rogers over from NBC in 1999. At NBC, Rutkowski was senior vice president and cfo, business development and strategic planning, of General Electric’s NBC subsidiary. Earlier in his career, he’d held finance positions with Walt Disney Studios, McDonnell Douglas and NCR Corp.
Rutkowski would succeed Jim Fogarty, who is expected to return to his duties as managing director at Alvarez & Marsal, the firm that managed Warnaco through its bankruptcy period. Antonio Alvarez, head of A&M, served as chief executive of Warnaco prior to the appointment of Joe Gromek to the post in April.
Warnaco emerged from bankruptcy in February and recently has been focused on building its brands, including Calvin Klein underwear and jeanswear, cleaning up its balance sheet and, through increased use of nondomestic manufacturing and other means, controlling its expenses.
For the first six months ended July 5, the Nasdaq-traded firm had net income of $14.2 million on sales of $662.2 million.