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Borders Adds Director; Joseph Resigns in U.K.
John Mutter -- 3/6/00

Borders Group has added a director with experience in consumer product retailing, but not in books: Beth M. Pritchard, president and CEO of Bath & Body Works, a division of Intimate Brands. She replaces Leonard A. Schlesinger, who plans, the company said, to devote himself fully to his job as executive v-p, organization, leadership and human resources, at The Limited. Borders president and CEO Gregory P. Josefowicz said Pritchard's "success in leading a high growth retailer, coupled with her brand management expertise, will be a tremendous asset to our organization."

In other personnel news at Borders, Richard Joseph has announced he will resign as chairman and CEO of Borders UK in June. Managing director John Monk had earlier said that he will leave his job in April and become a non-executive director. The company plans to combine the two functions into a new CEO position that will be filled by one person.

Joseph had been head of Borders UK since 1997, when Borders bought Books etc., which he founded in 1981 with his father, Philip. Joseph intends, Borders said, to "pursue other business interests and spend more time traveling."

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