MAIN NEWS HEADLINES
July 19 – July 26, 2007 Edition
ANN ARBOR, MI/7/16/07-Borders Group Chief Executive Officer George Jones today announced that Cedric J. Vanzura, executive vice president, emerging business and technology, chief strategy officer, has resigned as an executive officer of the company effective immediately, and his position is being eliminated. Vanzura will transition his functional duties over the next couple of months and will leave the company in September after the arrival of Borders Groups new Chief Information Officer, Susan Harwood.
Rick has been an integral part of our management team and has made many important contributions to the company, including a key role in development of our strategic plan for the future, the launching of our e-business and the development of Paperchase, said Jones. Now that the strategic plan is set and its initiatives are being executed within the individual business units, Rick and I agree that this is a logical time for him to transition away from his strategic duties. His technology responsibilities will be assumed by our new CIO when she joins the company in September. I want to thank Rick for many dedicated years of service and commitment to the company.
I want to thank George and the rest of my colleagues at Borders for giving me the opportunity to be a part of this great company, said Vanzura. I look forward to seeing the strategy unfold as a devoted customer and Borders Rewards member.
Before becoming executive vp at Borders Group, he served in 1999 as president of Borders.com, the company’s then online subsidiary, and was charged with attempting to create a dynamic relationship between its website and its bookstores. The site is now teamed with Amazon.com.
About Borders Group
Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP) is a leading global retailer of books, music and movies with more than 1,200 stores and over 32,000 employees worldwide. More information on the company is available at www.bordersgroupinc.com.