Borders Names Former Industry Vet Marshall as New CEO

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Borders Names Former Industry Vet Marshall as New CEO

01/06/2009
:As part of a major management reshuffling aiming to jumpstart sales and shore up operations, retail veteran Ron Marshall, 54, was named president and CEO of Borders Group Inc., which reported weak holiday sales.

Marshall -- a former Pathmark and Nash Finch executive who most recently founded private equity firm Wildridge Capital Management -- arrives at the Ann Arbor, Mich.-based Borders at a delicate time. The company recently warned that its stock is in danger of being delisted from the New York Stock Exchange after losing nearly all of its value in recent months amid larger-than-expected losses and financing trouble.

Marshall most recently served as principal of Wildridge Capital Management, a private-equity firm he founded three years ago. Prior to that, Marshall was CEO at Minneapolis-based food distribution and retailer Nash Finch Co., where he spent a total of eight years. Before that, he worked at Pathmark Stores Inc., where he served as CFO from 1994 to 1998.

Before his tenure at Pathmark, Marshall previously held senior management roles at Dart Group Corp.'s Crown Books unit and at the college bookstores unit of Barnes & Noble Inc.