Carreker to Leave Bombay June 3

May 15, 2006  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on May 2006 James Carreker, chief executive officer of The Bombay Co., will leave the company and also resign his position on the retailer’s board when his contract expires June 3.

The company had earlier announced Carreker’s contract was not subject to automatic renewal. The search for a new CEO continues.

In a statement released yesterday announcing Carreker’s departure, Nigel Travis, lead director of Bombay, praised and thanked Carreker for his three years of service, crediting Carreker for repositioning Bombay’s store infrastructure and merchandise assortment.

“The company must now rebuild positive sales momentum and a sustained market position in a continuing difficult environment,” Davis said. He added that if a new CEO hasn’t been named by the time Carreker leaves, Executive Vice President Steve Woodward will lead an interim executive management committee.

“I would like to thank the board, management and especially the employees of Bombay for their hard work over the last three years in helping to build the Bombay of the future,” Carreker said. “Difficult decisions were made, such as rapidly moving a large number of our stores off-mall, that were disruptive to our business and customers, but were necessary for Bombay’s future growth and success. It is now time for new leadership to capitalize on the changes and drive shareholder value. Further, good corporate governance makes my stepping down from the board the right thing to do.”

The Bombay Co. designs, sources and markets home accessories, wall decor and furniture through 481 retail stores, specialty catalogs and the Internet in the United States and abroad.