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Federated Management Changes

From: ASAP

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Federated Department Stores, Inc. announced the retirement of Jeremiah J. Sullivan as chairman/chief executive officer of its Macy's West division, and the appointment of Robert L. Mettler to that position, effective June 1.

Sullivan, 63, has chaired the San Francisco-based division since January 2000, having previously served as president/chief operating officer of Macy's West since 1995. Mettler, 61, has been president/chief operating officer of Macy's West since January 2000, and prior to that was president of merchandising for full- line stores at Sears, Roebuck & Co.

Michael J. Osborn, 54, will succeed Mettler as president/chief operating officer of Macy's West. Osborn has served as president/chief operating officer of Federated's 55-store Burdines division in Florida since December 1994. Susan Kronick, group president responsible for Federated's regional department store divisions, said a successor for Osborn at Burdines is expected to be named shortly.

Rudolph J. Borneo, 61, will continue to serve as vice chairman/director of stores for Macy's West, which operates 138 stores in seven western states, including Hawaii, with annual sales of $4.2 billion.

"Federated has benefited greatly from Jerry Sullivan's management abilities in various capacities over the past two decades, but never more so than during his years at Macy's West where the leadership he provided has been integral to the successful operations of this division," said James M. Zimmerman, Federated's chairman and chief executive officer. "Although we will miss him, we wish Jerry all the best in his well-earned retirement. We also are confident that Bob Mettler, who is an outstanding merchant and retail executive, along with Michael Osborn, Rudy Borneo and the entire Macy's West management team, will work to ensure a flawless transition."

Also today, Federated announced that Dawn Robertson, who has been president of Federated Stores Direct since July 2000, has resigned to accept a position with another major retailer outside of the U.S. Effective May 1, James J. Amann, in his role as executive vice president of strategic initiatives for the company, will assume responsibility for the Federated Direct division, which operates macys.com and Bloomingdale's By Mail.

In addition to his new duties at Federated Direct, Amann will retain responsibility for the company's Financial, Administrative and Credit Services division (FACS) and FDS Bank, Federated's federally chartered national bank. He also is responsible for a range of important corporate initiatives in his capacity as executive vice president of strategic initiatives.

Sullivan, a native of Chicago, began his retail career with Carson Pirie Scott & Co. in 1961, moving to Robinson's in Los Angeles as vice president and controller in 1979. He joined Federated a year later as vice president for finance at I. Magnin, then a San Francisco-based division of the company, and in 1984 was promoted to executive vice president. Three years later, he was named president of Boston-based Filene's, then a Federated division. Sullivan was promoted to chairman of the division the following year, prior to being named president of Federated's Lazarus division in 1989. He is a graduate of DePaul University with a master's degree in finance from Northwestern University.

A native of New Haven, CT, Mettler is a 40-year retailing veteran known for his innovative merchandising. A graduate of the University of Virginia with a degree in economics, Mettler began his retail career in 1962 as an executive trainee at Jordan Marsh in Boston, then a division of Allied Stores Corporation, which later became part of Federated. Mettler stayed with Allied until 1986, having risen through the merchandising ranks at Jordan Marsh before being named president and chief executive officer of Joske's San Antonio in 1980, and chief executive officer of Joske's of Texas in 1984. Two years later, he joined the May Department Stores Co. as president and chief executive officer of its L.S.Ayres division before being named to that post at Robinson's in California in 1987. He joined Sears in 1993 as president for apparel and home fashions.

Osborn, a southern California native and graduate of California State University with a degree in economics, began his retailing career in the data processing area at Bullock's, then a division of Federated, in 1974. He became vice president of operations for Bullock's in 1984, and in 1989 moved to Burdines as senior vice president of operations. In 1993, Osborn was named executive vice president of administration at Stern's, then a separate division of Federated based in Paramus, NJ. He was named president and chief operating officer of Burdines in 1994.

Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales from continuing operations of more than $15.5 billion. Federated currently operates more than 460 stores in 34 states, Guam and Puerto Rico, under the names of Macy's, Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus and Rich's, as well as macys.com and Bloomingdale's By Mail.

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