Borders Group Names CFO Mark Bierley To Addl. Role Of COO Of Borders Inc. – Update

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(RTTNews) – Bookstore chain Borders Group, Inc. (BGP) announced Friday the appointment of its Chief Financial Officer Mark Bierley to the additional position of chief operating officer of Borders, Inc., effective immediately. The Ann Arbor, Michigan-based company also announced the appointment of Rosalind Thompson as senior vice president of Human Resources for Borders Group, effective July 6, 2010.

In a statement, chief executive officer, Mike Edwards said, “Mark has been an exceptional CFO in what has been a difficult and change-heavy environment at Borders. He’s successfully led two financing programs that have strengthened the company’s financial position and he’s helped oversee the planning and execution of a number of key strategic initiatives. Mark is well respected in the financial community and has been vital in establishing ongoing positive relationships with our banking and vendor partners.”

Bierley, in his dual role of CFO and COO, will now oversees finance, IT, merchandising planning and supply chain, as well as real estate and strategic planning. Bierley, with more than 20 years of financial leadership, has served at Borders Group at various positions for the past 13 years. He was appointed executive vice president, chief financial officer in January 2009.

Bierley, who joined Borders Group in 1996 as manager of store inventory control, was promoted a year later to director of inventory control. He was then named vice president of financial planning and reporting in 2003, a post he held for four years before being named senior vice president of finance.

Prior to joining Borders Group, Bierley, a certified public accountant, held other financial management positions at Price Waterhouse, Federal Mogul Corp. and Dunham’s Sporting Goods.

Meanwhile, Thompson, with more than 35 years of experience leading HR organizations in multi-billion dollar retail companies, was most recently a principal at Orange Hill Associates, an HR consultancy she established in 2007.

Prior to that, Thompson served as chief human resources officer for apparel retailer Dots LLC, after serving with Jo-Ann Stores, Inc. (JAS) from 1992 through 2005, starting first as senior vice president, HR and progressing into the role of executive vice president, HR.

In Friday’s regular trading session, BGP is currently trading at $1.59, down $0.02 or 1.24% on a volume of 0.35 million shares.

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