Bombay Announces New CEO
June 05 2006 - 10:28PM
PR Newswire (US)
FORT WORTH, Texas, June 5 /PRNewswire-FirstCall/ -- The Bombay
Company, Inc. (NYSE:BBA) announced, effective today, the hiring of
Mr. David B. Stewart as Chief Executive Officer. Mr. Stewart, 67,
joins Bombay after having served as President of Blockbuster Video
Canada, Inc. from 2000 to April 2006, where he successfully led a
turnaround followed by a strong growth of the company's store
network and profits during a very difficult period for the Canadian
video rental industry. Mr. Stewart brings over 35 years of
retailing experience having served in key management and
merchandising positions at various specialty retailers and
department stores in the US and Canada. He will also serve as a
member of the Board of Directors. (Logo:
http://www.newscom.com/cgi-bin/prnh/20051026/BOMBAYLOGO ) Nigel
Travis, Lead Director of the Board of Directors commented, "We are
delighted to have Dave on board. He has great leadership skills and
brings a wide range of successful experience in varied industries,
including an understanding of the home space. He has strong
merchandising and marketing background, but most of all, in our
view, is a great leader of people. In his previous roles, Dave has
demonstrated an ability to identify winning strategies and then to
execute the plan, particularly at store level. His experience in
the restructuring and stabilization of companies in a turnaround
mode will be a great asset to the Company." "I am very energized
about the opportunity here at Bombay," stated Mr. Stewart. "The
Company has a great brand and has established a unique niche in the
specialty home furnishings arena. I recognize that there is much
work to be done and I look forward to being able to provide the
leadership that will be required to lead the Company to profitable
growth through these difficult times. I will be very focused on the
quality of our store execution and providing an exciting customer
experience as we strive to quickly return Bombay to profitability."
From 2000 to 2006, Mr. Stewart was the President of Blockbuster
Video Canada, Inc., a subsidiary of Blockbuster, Inc., which
operates over 440 home entertainment specialty stores in Canada.
From 1997 to 2000, he was President and CEO of Marks & Spencer
(Canada), a subsidiary of Marks and Spencer Group plc, a retailer
of mid-priced clothing, food and household items, where he led a
strategic repositioning and profit turnaround and ultimately the
wind down of the 50 store Canadian operations. From 1993 to 1997,
he was the President and CEO of UCS Group, a multi-concept national
specialty retail chain with over 500 stores in Canada, where he was
credited with returning the company to profitability, developing a
more streamlined organization and managing the company through a
change of control to a European buyer. From 1991 to 1993, he served
as President and CEO of Brettons, Inc., a chain of high-end men's
and women's specialty fashions based in Toronto, where he
implemented a turnaround strategy and successfully initiated the
process that resulted in the sale of the chain. From 1989 to 1991,
Mr. Stewart was the Senior Vice President of Merchandising and
Marketing of ChildWorld, Inc., of Avon, Massachusetts, then the
second largest toy supermarket chain in the United States with
sales of $1 billion. From 1970 to 1986, he held various management
positions with Sear Canada, Inc. and Sears, Roebuck & Company
including Vice President, Men's and Children's Apparel. The Bombay
Company, Inc. designs, sources and markets a unique line of home
accessories, wall decor and furniture through 479 retail outlets,
specialty catalogs and the Internet in the U.S. and
internationally. Any statements in this press release that may be
considered forward- looking statements are subject to risks and
uncertainties that could cause actual results to differ materially.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Those
risks are described in the Company's public announcements, reports
to stockholders and SEC filings, including but not limited to
Reports on Forms 10-K, 8-K and 10-Q, copies of which are available
from the SEC or may be obtained upon request from the Company. The
Company undertakes no obligation to revise the forward-looking
statements contained therein to reflect events or circumstances
after the date hereof as a result of new information, future events
or otherwise.
http://www.newscom.com/cgi-bin/prnh/20051026/BOMBAYLOGODATASOURCE:
The Bombay Company, Inc. CONTACT: Elaine D. Crowley, Sr. Vice
President, Chief Financial Officer, of The Bombay Company, Inc.,
+1-817-347-8200 Web site: http://www.bombaycompany.com/
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