A week before it is set to release second quarter results, Borders Group has announced that CFO Mark Bierley has resigned “to pursue another employment opportunity.” Vice president Glen Tomaszewski has been named interim CFO, while Borders searches for a new CFO. Bierley had been CFO for about two years and in June was given the additional role of chief operating officer, putting him in charge of finance, IT, merchandise planning and supply chain plus real estate and strategic planning.
Tomaszewski, 41, has been with the company for 12 years in different finance roles.
“I appreciate the many contributions Mark has made to the company,” said Borders CEO Mike Edwards in a statement. “He successfully led our debt and equity financings earlier this year and oversaw the recent sale of Paperchase, which have strengthened Borders’ financial health and provided the necessary foundation for repositioning the Borders brand. I wish Mark all the best in his new role.
“We are highly committed to driving the top line at Borders Group, while continuing to prudently manage expenses,” continued Edwards. “As we conduct our search for a new CFO, I will work closely with Glen on carrying out our financial priorities, including maximizing the profitability of our stores and increasing the efficiency of our supply chain.”
