Neiman Marcus Inc. Names Katz CEO, Replacing Tansky

Posted on April 26th, 2010 10:36pm by Glenn Hunter
Filed under Business, Local News

Karen Katz IMG_8402Neiman Marcus Stores chief Karen Katz (pictured in photo by Jeanne Prejean) is replacing Burton Tansky as CEO at Dallas-based Neiman Marcus Inc. Tansky, who’s retiring as CEO, was said to be “walking a tightrope” since the recession slammed luxury purveyors like Neiman’s. Revenue  at Neiman Marcus Inc. plunged from $4.6 billion in fiscal 2008 to $3.6 billion in ‘09. The changing of the guard at the upscale retailer is scheduled to happen in October. Tansky, who’d been CEO of the Neiman’s parent company since 2001, signed a new contract in 2007 extending his tenure through October. He’ll stay on as non-executive chairman.

1 comment

  1. Yes, revenue is down, but NM remains PROFITABLE even during the downturn. Many retailers, especially in the luxury market can’t say that. Kudos to Katz, but for shareholders Tansky kept NM focused on profits, and the retailer will survive as a result.

    @ 5:32 am on April 27, 2010

Leave a Comment

* required fields