Friedman’s Board appoints Parshall as audit committee chair

Friedman’s Inc. has appointed David B. Parshall, currently an independent director on the company’s Board, to the role of Chairman of the Board’s Audit Committee, the company said in a statement. Parshall replaces Mark C. Pickup, who died unexpectedly last week. Mr. Pickup had been a member of Friedman’s Board of Directors since August 1993.

“All of us are deeply saddened by Mark’s death,” Robert Cruickshank, chairman of Friedman’s Inc, said. “We will be forever grateful for Mark’s tireless efforts on behalf of Friedman’s after more than 10 years of service on the board. We extend our condolences to Mark’s family.”

Parshall was elected a director of Friedman’s in December 1993. Since April 1992, Parshall was a managing director of Private Equity Investors, Inc., a company that purchases portfolios of private equities. Parshall also serves as a director of Dolphin Management Inc., an investment management firm with which he has been affiliated with since Oct. 1992. From 1976 to 1990, He was successively an associate, vice president, senior vice president and managing director of Lehman Brothers. From Aug. 1990 to March 1992, he served as a managing director of the Blackstone Group, L.P. Parshall also serves as a director of Telenetics Corp.

Friedman’s Inc. is a leading specialty retailer of fine jewelry based in Savannah, Ga. The company operates 709 stores in 20 states, of which 223 were located in power strip centers and 486 were located in regional malls.