The Long Farewell

Elder-Beerman Stores Corp. (Dayton, Ohio) announces that chairman,president and ceo Frederick Mershad will retire at the end of the year.Mershad, a 36-year industry veteran, held this position since December1997. Before joining Elder-Beerman, he was president and ceo for theProffitt's division of Saks Inc.

Steven Mason, chairman of the Board's executive committee, said, “DuringFred Mershad's tenure at Elder-Beerman, he grew the chain from 48department stores to its current 63 stores. He led the team that createdthe company's concept stores in 1999 and presided over the developmentof the company's new strategic plan.”

Though his replacement has not been named, a search for Mershad'ssuccessor is underway.

Elder-Beerman is the ninth largest independent department store chain.In addition to the 63 stores in Ohio, West Virginia, Indiana, Michigan,Illinois, Kentucky, Wisconsin and Pennsylvania, three more stores arescheduled to open this fall, in Kohler, Wis., Alliance, Ohio, andDuBois, Pa.