Board shake-up as new owner recaps Hanover
By Staff -- Home Textiles Today, 12/8/2003 12:00:00 AM
EDGEWATER, NJ —
Hanover Direct reconstituted its board of directors in the wake of a recapitalization that shifted control of the company to hedge fund Chelsey Direct.
Hanover added Donald Hecht as a new director. Hecht has managed Hecht & Company, an accounting firm, since 1966. Also joining the board are Stuart Feldman, a principal of Chelsey Direct, and William Wachtel, managing partner of Wachtel & Massyr.
In connection with the recapitalization agreement, Jeffrey Sonnenfeld, Ken Krushel and Pen James have resigned from the board.
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Hanover Direct control moves to hedge fund
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