Kahn Job

In a conference call with analysts following announcement of its fourth-quarter and year-end financial results, executives of The May Department Stores Co. (St. Louis) said they had no detailed update on the search for a successor to former ceo Gene Kahn, who resigned last month.

John Dunham, May’s president and acting chairman and ceo, told analysts only that “an announcement [on Kahn’s replacement] will be made as soon as the board has reached a decision.”

He deflected a question about what characteristics the ceo should have, saying such assessments were in the board’s hands.

Kahn abrupt departure came just seven months after helping May acquire Marshall Field’s department stores and nine Mervyn sites from Target Corp. (Minneapolis) for $3.24 billion. Some retail analysts have said the Marshall Field’s price was way too high and that Kahn also had been criticized by people within the company for micromanaging the business and not developing a clear vision.