Urban Outfitters Promotes CFO to COO as Part of Executive Shuffle
Urban Outfitters Inc. promoted its finance chief to chief operating officer, a move that comes as the number of COOs at large U.S. companies is declining.
城市用品公司(Urban Outfitters Inc.)。将其首席财务官提升为首席运营官之际，美国大公司的首席运营官数量正在下降。
The Philadelphia-based fashion and home goods retailer said Tuesday that Chief Financial Officer Frank Conforti has been named COO and co-president. Mr. Conforti has served as Urban Outfitters’s CFO since 2012. He will continue in the CFO role while the company searches for a replacement.
这家总部位于费城的时尚和家居用品零售商周二表示，首席财务官弗兰克·孔福尔蒂(Frank Conforti)已被任命为首席运营官兼联席总裁。孔福尔蒂自2012年以来一直担任Urban Outfitters的首席财务官。在公司寻找继任者期间，他将继续担任首席财务官的角色。
Mr. Conforti succeeds current COO Calvin Hollinger, who plans to leave at the end of the month after five years in the role and 16 years with the company, Urban Outfitters said.
Urban Outfitters说，孔福尔蒂接替了现任首席运营官卡尔文·霍林格(Calvin Hollinger)，霍林格在公司任职五年和16年后，计划于本月底离职。
Mr. Conforti’s promotion—part of a broader reshuffle at the top—followed an announcement by Tupperware Brands Corp. earlier in the day to expand the purview of its CFO.
孔福尔蒂的晋升是高层更广泛改组的一部分，此前特百惠品牌公司(Tupperware Brands Corp.)当天早些时候宣布扩大首席财务官的职权范围。
Also on Tuesday, Cassandra Harris got the COO title in addition to her existing responsibilities as finance chief, the Orlando, Fla.-based maker of food storage containers and other kitchen equipment said.
Tupperware and Urban Outfitters declined to comment beyond their respective releases.
The number of COOs at companies in the S&P 500 and Fortune 500 has been trending lower in recent years to 35% in 2020, down from 42% in 2010, according to the Crist|Kolder Volatility Report, which tracks executive recruitment trends.
The two promotions show that some finance chiefs have significant leverage within their companies to expand their remit, said Peter Crist, chairman at Crist|Kolder Associates. “Companies are desperate to retain outstanding people,” he said.
Crist|Kolder Associates董事长彼得·克里斯特(Peter Crist)表示，这两次晋升表明，一些财务总监在公司内部拥有扩大职权范围的巨大影响力。“公司不顾一切地想留住优秀的人才，”他说。
In his new position, Mr. Conforti will assume responsibility for Urban Outfitters’s fulfillment and logistics divisions, as well as legal and human resources, the company said in its announcement.
He previously oversaw Urban Outfitter’s inventory strategy during the pandemic, working to reduce its stockpile of clothing while also making sure it has the right products on offer. The company is navigating a difficult retail environment amid the pandemic. Net sales declined 16.5% to $803.3 million in the quarter ended July 31 compared with the year-ago period, Urban Outfitters said.
他之前在大流行期间监督Urban Outfitter的库存战略，努力减少服装库存，同时确保提供正确的产品。在大流行期间，该公司正在艰难的零售环境中导航。Urban Outfitters说，与去年同期相比，截至7月31日的季度净销售额下降16.5%，至8.033亿美元。
Mr. Conforti’s base salary will increase to $900,000 from $773,000 as part of the promotion, the company said in a regulatory filing. Meg Hayne, Urban Outfitters’s chief creative officer, will serve as the company’s other co-president. Her base salary has also been raised to $900,000, Urban Outfitters said.
该公司在一份监管申报文件中说，作为晋升的一部分，孔福尔蒂的基本工资将从77.3万美元增加到90万美元。Urban Outfitters的首席创意官梅格·海恩(Meg Hayne)将担任该公司的另一位联席总裁。Urban Outfitters说，她的基本工资也提高到了90万美元。