Succession Plan in Place at Jos. A. Bank

Robert N. Wildrick announced Sept. 12 that he is retiring as CEO of Jos. A. Bank Clothiers after 10 years. But he will remain with the men’s apparel cataloger/retailer as chairman of the board and as a consultant under a three-year contract.

R. Neal Black, will take over as CEO, effective Dec. 2, under a contract that runs through 2011. Black, who joined Jos. A. Bank as chief merchandising officer in 2000, was appointed president last year and has been groomed to take over the Hampstead, MD-based company.

Andrew Giordano is retiring as chairman of the board, becoming chairman emeritus and remain lead independent director. The company also announced that it has elected James Ferstl and Henry Homes III to its board of directors.

While Wildrick plans to remain involved in the strategic and financial planning of the company, he is stepping down at the top of his game. Jos. A. Bank was struggling when he took it over in 1999. Sales have increased from $108 million in 1999 to $604 million for the company’s fiscal year ended Feb. 2; annual net income went from $1.4 million to $50.2 million.

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