Dennis Pence, founder of Coldwater Creek Inc. (Sandpoint, Idaho), has assumed the title of ceo in a top-level management shakeup for the high-end apparel retailer.
The previous ceo, Georgia Shonk-Simmons, will retain the title of president and add the duties of chief merchandising officer. She will also keep her seat on the board of directors.
The company said the joint-management structure is designed to allow both Pence and Shonk-Simmons “to focus their individual strengths and collective expertise on the goal of establishing Coldwater Creek as one of the major brands in women's apparel.”
“This marks a return to a structure that worked very well in Coldwater Creek's corporate history,” said Pence, who founded the company with wife Anne Pence in 1984. “My personal charge from the board of directors is returning the company to our days of rapid growth, [including] the expansion of our retail store base across the country.”
Pence has served as president, ceo and alternately as both chairman and vice chairman of the board of directors of the company since its incorporation in 1988. Shonk-Simmons joined Coldwater Creek as vp and director of merchandising in 1998, after serving as executive vp of the Newport News division of Spiegel Inc. She was promoted to president of the catalog and retail sales division in April 1999.
Coldwater Creek sells upscale, mostly traditional apparel through almost 30 full-line retail stores and about 10 outlet stores, plus several catalogs and its web site.