Saks Execs Step Down
Birmingham, Ala.–based department store chain Saks Inc. announced that Douglas E. Coltharp, executive vice president and chief financial officer; Kevin G. Wills, executive vice president of finance and chief accounting officer; and Charles J. Hansen, executive vice president and general counsel, have all tendered their resignations, with intentions of remaining with the company until May. Michael G. Archbold will take up the position of executive vice president and chief financial officer. The news was not a complete surprise. Saks announced in August that many of its executive functions would be consolidated following its sale of the Parisian unit.
