He isn't running the company? OR wasn't? Either way Tom really went out of his way to get the cream of the crop this time didn't he?
Mr. Becker has worked for retail chains for nearly 30 years and was a senior executive for T. Eaton Co., Toronto, one of Canada's largest department stores, before the iconic chain went bankrupt and was sold to Sears Canada Inc. for $50 million in 1999. He also has consulted for Wet Seal, a Los Angeles-based clothing company, and Tommy Hilfiger Corp., New York.
And this statement directly contradicts what you state about the family running the stores into the ground.
Mr. Becker said one thing that will change are the roles of the former top three officers — Norman V. Garrelts, Patrick E. Hackett Jr. and Juliann Hackett-Cliff.
Although company officials are still discussing the management changes, Mr. Becker has proposed making Mr. Hackett director of operations and Mrs. Hackett-Cliff director of merchandising.
The two are former company owners and vice-presidents, who, along with Mr. Garrelts, resigned from their positions in March to avoid being held liable as executives in a financially troubled company, Mr. Scozzafava said. The three continued at the company as consultants. Seems to me like TS needed to keep them around to keep the Company from going BK even sooner, to pay them as "consultants"
According to Mr. Becker, the two directors will report to him and will not have any executive authority or legal accountability to shareholders. I think they know how pissed off shareholders are with this mess.
I mean, people out there are crazy enough to hunt Tommy Boy down with something other than a pea shooter. Think of how many people that lost half their life savings believing in something that could have made it only to have the deck stacked against them from the beginning so TS, Friends, and family could make a boatload of cash off shareholders...
