PARAMUS, N.J., March 27 /PRNewswire-FirstCall/ -- Movado Group, Inc.
(NYSE: MOV), today announced that Sallie A. DeMarsilis has been appointed
Chief Financial Officer and Principal Accounting Officer, effective March 31,
2008. Ms. DeMarsilis, who joined the Company earlier this year, succeeds
Eugene Karpovich, who will remain an officer of the Company and a senior
member of its management team focusing on various corporate worldwide
Ms. DeMarsilis is a senior level financial executive with over 15 years of
financial management experience. Prior to joining Movado Group, Sallie served
as Senior Vice President of Finance with The Warnaco Group, Inc., a publicly
traded global wholesaler and retailer of apparel. Prior to Warnaco, Ms.
DeMarsilis held several senior financial positions with AnnTaylor Stores
Corporation, including Controller and Senior Vice President of Finance. She
is a certified public accountant and previously served a varied client base
for several years working in public accounting with Deloitte & Touche LLP.
Ms. DeMarsilis is a graduate of the Carroll School of Management at Boston
Efraim Grinberg, President and Chief Executive Officer, stated "We are
pleased to announce Sallie's appointment as Chief Financial Officer, a few
years prior to Gene's planned retirement, which allows for a seamless
transition into this key executive position. Sallie's strong financial
management experience, retail industry insight and leadership qualities will
play an important role in our continued success."
"I would also like to recognize Gene's important contribution to our
company not only over the past five years as Chief Financial Officer, but
since joining the Company 10 years ago," commented Mr. Grinberg. "Gene's
disciplined management style and participation on our executive team has
strengthened our financial position and competitive posture. We will continue
to benefit from his 25 years of industry experience, as he takes over his new
senior management responsibilities."
Movado Group, Inc. designs, sources, and distributes Movado, Ebel,
Concord, ESQ, Coach, Tommy Hilfiger, HUGO BOSS, Juicy Couture and LACOSTE
watches worldwide, and operates Movado boutiques and company stores in the
SOURCE Movado Group, Inc.
CONTACT: Investor Relations, Suzanne Rosenberg,
Corporate Communications, of Movado Group, Inc.
Parrish or Stephanie Rich, both of Financial Dynamics,
Movado Group, Inc.
Web site: http://www.movadogroupinc.com