Perry Ellis CFO Anita Britt leaves at short notice

  • Signs for push-out forces
  • After eight years on the job
  • Laud, praise and thanks for Britt
  • David Rattner taking over

(management-change.com) — Miami, Florida, February 06, 2017 — Anita Britt, finance chief of Perry Ellis, leaves. It is a change at short notice. As announced by Perry Ellis International, Inc. in a news release on Monday, February 06, 2017, Anita Britt, Chief Financial Officer, leaves the clothing company in a surprising move after eight years on the job, effective March 31, 2017.

Britt’s duties are taken over by David Rattner, most recently VP Finance and Corporate Controller at Elizabeth Arden.

The fact that Britt’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.

No reason given

In the announcement, Perry Ellis did not explicitly explain the reason for Britt’s imminent move, leaving room for speculation.

“Retirement”

Perry Ellis said: “Anita Britt announced her retirement from the company effective March 31, 2017 and will ensure the transition of the CFO office is seamless.”

Precise information about the future plans of Britt was not immediately available.

Share price decline

The change follows a decline in the share price of Perry Ellis International, Inc. since December 09, 2016.

Chaired by George Feldenkreis

Perry Ellis International, Inc. is chaired by George Feldenkreis.

George Feldenkreis founded the Company in 1967 and served as President and director until February 1993, at which time he was elected Chairman of the Board and Chief Executive Officer.

CEO: Oscar Feldenkreis

Oscar Feldenkreis serves as CEO of Perry Ellis International, Inc. Oscar Feldenkreis was elected Vice President and a Director in 1979 and joined Perry Ellis on a full-time basis in 1980. Feldenkreis was elected President and Chief Operating Officer in February 1993 and as Vice Chairman in March 2005.  In April 2016 Feldenkreis was named Chief Executive Officer and President.

On the job as CFO since 2009

Britt has been Chief Financial Officer at Perry Ellis International Inc., since March 2, 2009.

Before joining PEI, she served as Executive Vice-President and Chief Financial Officer for Urban Brands Inc., and prior to that spent over twelve years at Jones Apparel Group, Inc.

Britt held multiple leadership positions, which included Executive Vice President of Finance.

As a key member of the PEI Executive Management team, Britt reports to the Chairman and assumed a strategic role in the overall management of the company.

She has the day-to-day responsibility of planning, implementing, managing and controlling all financial-related activities for the company.

This includes, but is not limited to, accounting, finance, forecasting, strategic planning, job costing, property management, deal analysis, negotiations, investor relationships, partnership compliance, and private and institutional financing.

Britt is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants, the Pennsylvania Institute of Certified Public Accountants as well as the National Institute of Investor Relations.

She also serves on the Board of Trustees for St. Thomas University.

Signs for push-out forces

It is not completely certain what forces eventually triggered Anita Britt’s move.

The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.

Read the full story in the management-change.com report 07.2017 ($).