Shakeup at Liz Claiborne
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November 21, 2000: 4:40 p.m. ET
President leaves the company on eve of further organizational changes
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NEW YORK (CNNfn) - Apparel maker Liz Claiborne is losing its president and plans a number of organizational changes in the coming months.
The New York-based company, whose brands include Laundry, Liz Claiborne, Elisabeth and Dana Buchman, said Denise V. Seegal, its president since 1996, will leave the company on Dec. 8. Her plans were not specified.
Paul R. Charron, chairman and chief executive of the company, will assume her responsibilities leading the largest maker of clothes and accessories for professional women.
"In the coming weeks, we will be announcing a number of changes in our organizational structure," said Charron's statement. "These will be designed to address the changing needs of consumers who are increasingly conscious of quality and value in their apparel purchases."
Retail sales have been falling in recent months, with a number of major retailers predicting lower sales and earnings, partly due to soft apparel sales.
Shares of Liz Claiborne (LIZ: Research, Estimates) lost $1 to $40.56 in trading Tuesday.
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Liz Claiborne
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