Federated Direct loses top exec to Limited

CINCINNATI — Federated Department Stores has announced that Jeffrey Sherman, chairman and ceo of Federated Direct, the company's direct-to-customer catalog and e-commerce division, has resigned effective March 1 to accept a position with Limited Stores.

Following Sherman's departure, Ronald Tysoe, Federated vice chairman, will assume the responsibilities for Federated Direct. Michael Sherman, Fingerhut president, will report directly to Tysoe, and he, along with Steven Lightman, executive vp of Fingerhut catalog operations, will maintain responsibility for Fingerhut's ongoing operations.

Dawn Robertson will head Federated Direct, which is also responsible for the operations of macys.com and Bloomingdale's By Mail. After March 1, Robertson, who has served as the division's president and chief merchandising officer since 1999, will report to Susan Kronick, Federated group president.

Kronick, currently responsible for the company's regional department stores — The Bon Marché, Burdines and Rich's/Lazarus Goldsmith's — will then oversee managing the overall bridal and gift registry business. She will continue in her current responsibilities as well.

Sherman had been with Federated since 1971. He advanced to become president and coo in 1989, and he served as chairman and ceo of Federated Direct since March 2000.

"Jeff Sherman has consistently served this company well and has made many invaluable contributions to the business during his three decades with Federated," said James Zimmerman, Federated's chairman and ceo. "Jeff has been working closely with Ron Tysoe and the Fingerhut management team, so we are confident there will be a smooth and seamless transition of responsibilities on all fronts."