E.J. BRENNAN WILL HEAD DFS GROUP
Byline: David Moin
NEW YORK — Edward J. Brennan will become president and chief executive officer of DFS Group Limited on Nov. 19, succeeding Brian Kendrick, who resigned to become president and ceo of Asbury Automotive Group, a large auto dealer.
Brennan, 43, is president of DFS merchandising and responsible for global merchandising, product development and merchandise planning. Brennan developed a reputation as a fine merchant, particularly in men’s wear, at Macy’s, where he rose to senior-level executive. Said to have strong people skills as well, Brennan, the son of former Sears ceo Edward Brennan, had long been expected to ascend to a top leadership role.
“Ed is a strong leader with a proven record as a merchant and manager,” said Myron E. Ullman, group managing director of LVMH Moet Hennessy Louis Vuitton and group chairman of DFS Group, in a statement Friday. “He has made a meaningful impact at DFS since joining the company two years ago, first at DFS’s Hawaiian operation and then as the company’s chief merchant. He has the vision, energy and enthusiasm to help DFS reach new milestones.”
Kendrick, who has a reputation as a financial and operations turnaround specialist, joined DFS Group “at a time of great uncertainty in the travel retail industry, particularly in our primary markets in Asia,” Ullman said.
Since then, Ullman added, “the company has weathered the Asian economic crisis successfully and emerged as an even stronger competitor that is well-positioned to benefit from the region’s improving business trend.”
After completing a major restructuring, including store closings, layoffs and initiatives to build market share, DFS has recently showed signs of recovery, returning to profitability in August after prolonged difficulties stemming from the Asian economic turmoil and reduced tourism from Asia. DFS Group’s sales increased by more than 30 percent in September, compared with the same period a year ago, the company noted.
Brennan’s promotion triggered others within the ranks. Two senior vice presidents, Kirk Martin and Dennis Garro, were named executive vice presidents, both reporting to
Brennan. Martin, who was merchandising the European stores, is now supervising boutiques, beauty, liquor and tobacco. Garro, formerly over luxury, now oversees fashion, destinations and luxury. Luis Samaniego has been named senior vice president, luxury, reporting to Garro. He was vice president, senior merchandise manager for watches.
Brennan joined DFS Group in May 1997 as executive vice president, merchandising and operations in the Hawaii region, after a 16-year career at R.H. Macy & Co. and Federated Department Stores, which acquired Macy’s in 1994.
He was promoted to president, DFS-USA region, encompassing North America and Hawaii, and was named chief merchant of DFS a year ago.
Kendrick is best known for his eight-year tenure at Saks Fifth Avenue.