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Federated Board Elects New VP/Internal Audit

From: ASAP


The board of directors of Federated Department Stores, Inc. (NYSE:FD)(PCX:FD), meeting in New York, elected Felicia Williams to the new corporate position of vice president of internal audit, effective June 1.

Williams, 38, currently serves as director of internal audit for Coca-Cola Hellenic Bottling Company, in Athens, Greece, a position she has held since June 2002. At Federated, Williams will be responsible for implementing internal controls and overseeing an internal audit staff of 25.

A native of Chicago, Williams joined the Coca-Cola Company in Atlanta in June 1994 as a senior treasury analyst, moving through the ranks as a manager of portfolio risk management and capital markets to become executive assistant to the chief financial officer in 1997. In May 1999, Williams was promoted to group controller/treasurer, responsible for financial control policies and treasury strategies to support Coca-Cola's European, African and Middle Eastern operations.

A graduate of Florida A&M University with a degree in accounting, Williams is a certified public accountant. She began her career in 1987 as an auditor with Arthur Andersen & Co. in Washington, D.C. She moved to Bristol Myers-Squibb in New York as a senior international auditor in 1990, becoming a senior financial analyst in 1993.

Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales of more than $15.2 billion. Federated operates more than 450 stores in 34 states, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Bon-Macy's, Burdines-Macy's, Goldsmith's-Macy's, Lazarus-Macy's and Rich's-Macy's. The company also operates macys.com and Bloomingdale's By Mail.

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