Andrew Jennings has resigned as president and chief operating officer of Saks Fifth Avenue, the New York-based division of Saks Inc. (Birmingham, Ala.).
Jennings said he had decided to return overseas, where he had spent most of his 30-year career. Saks said it did not currently intend to replace him. Ronald Frasch, vice chairman and chief merchant, and Terron Schaefer, senior vp, marketing, will now report to Saks Inc. ceo Stephen Sadove.
Sadove said Jennings had agreed to remain for another month to ensure a smooth transition.
Jennings joined the luxury retailer in February 2004 as president and chief merchandising officer, a position created expressly for him. He had been president of Holt Renfrew Specialty Store Group (Toronto) and before that deputy chairman of the Brown Thomas Specialty Store Group in Ireland; managing director of the House of Fraser Department Store Group (London); general manager and board member of Harrods (London) and with various premium specialty and department stores in South Africa.
It was a time of new faces at Saks. In November 2003, it had hired Fred Wilson, previously ceo of Donna Karan Intl. (New York), as divisional ceo. And in January 2004, Frasch had given up his position as chairman and ceo of the Bergdorf Goodman (New York) to come on board.
But the retailer has struggled. In January 2006, Wilson’s job was eliminated at the same time founder and ceo Brad Martin was replaced.