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| Industry Press Releases |
 Syms Bolsters Management With Ex-Children's Place Exec SECAUCUS, NJ, June 10, 2010 - Seth Udasin, a finance officer at The Children's Place Retail Stores Inc. during its period of biggest growth, was hired by Secaucus-based off-price apparel seller Syms Corp. as senior vice president, chief financial and administrative officer. Udasin will report to Syms Chairman and Chief Executive Officer Marcy Syms. In a statement released June 9, 2010, Syms said that Udasin's hiring is part of a series of recent strategic hires designed to build "a deep and experienced management team as we further combine Syms and Filene's Basement operations." She said Udasin's "impeccable financial credentials will help lead Syms into the next chapter of our company's success." Syms has made significant hires in recent months after purchasing Filene's Basement a year ago for $62.5 million. In March, the company appointed Joel Feigenbaum as chief integration officer; he is directing the ongoing merger of the Syms and Filene's Basement brands, including the co-branded stores. Last month, Jason Somerfield, a veteran of Burlington Coat Factory who helped reshape the brand's image, joined as senior vice president and general merchandising manager. Udasin said in a statement that "This is an exciting time to be joining the company that recently acquired Filene's Basement." Syms has announced plans to integrate the two chains in new prototype stores that combine the best of both retailers. Udasin left Children's Place in 2005 and has spent the last five years working as an independent consultant. He was vice president and chief financial officer of Children's Place from 1996 to 2005. His tenure in that job included the period in 1997 when the company went public. During his 22 years at Children's Place, Udasin also served as controller, director of planning and analysis, manager of financial planning and in other positions. He was a key participant in the company's presentations to financial analysts and investors. www.syms.com |
