The upcoming end of the fiscal year will bring in a new management team for Borders. As announced early in 2001, Bob DiRomualdo is retiring as chairman of the chain, and, effective January 28, will be succeeded by Greg Josefowicz. Josefowicz will also continue as president and CEO. Before being hired as president in 1999, he had been president of Jewel-Osco, a food and drug retail division of Albertson's. DiRomualdo remains a member of the Borders board.
Borders's two vice-chairmen, George Mrkonic and Bruce Quinnell, are also retiring at year-end. Mrkonic will remain a director and assist the company's international operations. Quinnell's duties have been reassigned to other executives.
Michael Spinozzi, who like Josefowicz is a Jewel-Osco alumnus, has been named to the new position of executive v-p, chief marketing officer. He will oversee all merchandising, marketing and distribution functions, including Borders Books & Music stores and Waldenbooks. He was hired last March as senior v-p, sales and marketing for the superstores.
At the same time, Kathryn Winkelhaus, who had been president of merchandising and distribution, is resigning "to pursue other career options." Winkelhaus was a longtime Waldenbooks executive, where she had served as president from 1997 to 1999. She was president of Borders superstores from 1999 to March 2001, when she was named to her last position.
