Neiman beefs up executive ranks

Dive Brief:

Neiman Marcus Group recently hired two interim executives as it searches for a permanent chief financial officer, a company spokesperson said by email. Mark Weinsten, who was interim chief operating officer at the company from 2019 to 2020, is serving as CFO in the interim.
Jim Scully, previously at J.Jill, Avon and J. Crew, according to his LinkedIn page, is interim chief growth officer, reporting to CEO Geoffroy van Raemdonck.
In November, Neiman Marcus also promoted Natalie Lockhart to senior vice president, strategy and execution, "responsible for coordinating all aspects of the luxury retailer's growth roadmap," and Chris Demuth to senior vice president, people services, ESG, belonging and corporate philanthropy. The company also hired Tiffin Jernstedt, previously at PVH, Tommy Hilfiger, Calvin Klein and Ralph Lauren, as chief communications officer.

Dive Insight:

Neiman Marcus, months after emerging from bankruptcy, began the year with an executive shakeup as it doubled down on digital sales. Since then, thanks largely to a vaccine that put a dent in the pandemic, apparel sales have reignited, and the company, which runs Bergdorf Goodman in New York as well as its namesake luxury chain, sought to reintroduce itself.

The company is now beefing up its executive ranks just as a new strain of the coronavirus has health experts and economists alike worried about a renewed threat to public health and consumer confidence. The presence of the omicron variant of the disease could further undermine consumers' willingness to shop indoors. While traffic to Neiman Marcus stores over Black Friday nearly doubled year over year, it was down more than 20% compared to 2019, according to data from Placer.ai.

That makes the company's digital emphasis all the more important. For now, more than a year out of bankruptcy, it's focused on turnaround, profits and growth, according to a statement from van Raemdonck in November.

"Finding and developing key talent at NMG is critical to support our growth," he said. "Having the right leaders in place to lead the strategy, provide governance over our culture, and amplify all of this great work through communications will ensure our organization continues to strategically transform for the better, the NMG|Way, to deliver profitable and sustainable growth."