Neiman Marcus Gets New CEO

Karen Katz, who has served as Neiman Marcus Group’s president and CEO since 2010, will retire from those positions on Feb. 12, the company announced in an SEC filing.

Katz, a 30-year Neiman veteran who began her career as an assistant store manager, will remain a member of the company’s board of directors.

She will be replaced as CEO by Geoffroy van Raemdonck (pictured).

Van Raemdonck, 45, most recently served for three years as group president for Europe, Middle East, and Africa, and global travel retail at Ralph Lauren. He was also CEO of St. John Knits International. With an MBA from the University of Chicago, he began his career as a consultant with Boston Consulting.

In 2015, Neiman applied for an IPO, but ultimately withdrew it two years later. The company is owned by Ares Management and the Canada Pension Plan Investment Board, which bought it for $6 billion in 2013.

An attempt to sell itself last year proved equally unsuccessful.

Katz lately had been promoting a digital-first strategy. Currently, online represents 30 percent of the company’s revenues.

“It has been a unique privilege serving as CEO, and I am proud of the substantial progress and success our team has achieved,” Katz said in a statement. “Geoffroy has an impressive track record of success at luxury brands, and he is the right person to lead the company through this next phase of growth.”

(Image courtesy of Neiman Marcus)

JCK News Director

2 responses to “Neiman Marcus Gets New CEO”

  1. Karen Katz is a fantastic retail mind, who did a great job during her tenure. Hedge fund buyouts, piling on too much DEBT, are the culprit for Neimans issues. Innovative technology adaptation tools provided to NM associates, implemented under Katz’s reign, outclass the competition by far. The real challenge going forward will be how to attract the customer of today, who seemingly show far less interest in true luxury merchandise purchases.

  2. To me It is crystal clear Karen Katz is not clearly as fantastic or a good leader, not a visionary or else she would have Neiman’s make changes so it was set for success for the ever changing market. she retired.before it gets much worse, this way she is not responsible for her failed vision & decisions. The fact Neiman Markus failed to sell last year clearly tells you it is not in a good position.

    After Sears CEO and his least amount of efforts to turn the Sears around, 100’s of store closures in USA ( Canadian GOB) clearly indicates, He is a complete failure and no leader. It also questions the mindset & intelligence of the people that put him there to lead. It is still a friends and family kiss up program for hiring top management and not really hiring excellent true talent to lead.

    This has actually one of the main reasons of huge failures & a lot of store closures. Unless this changes I see a lot more chain store businesses going down. These people have failed to change & keep up with changing times.

Leave a Reply

Your email address will not be published. Required fields are marked *