NEIMAN MARCUS TAPS RETAIL INDUSTRY VET MICHAEL FUNG AS INTERIM CFO

Neiman Marcus Group has announced Michael Fung will serve as interim CFO and COO of the company, effectively immediately. This position was previously held by Donald Grimes.

Most recently, Fung served as interim chief financial officer and treasurer for 99 Cents Only Stores and currently serves on its board. Prior to that, Fung spent 11 years at Wal-Mart Stores Inc., retiring in 2012. During his tenure, he served as chief financial officer for Walmart U.S. and SVP of Global Procurement and Internal Audit. Earlier in his career, he held leadership and executive-level positions at Sensient Technologies, Vanstar Corporation, Bass Pros Shops, Beatrice Companies, and Deloitte & Touche.

Fung brings nearly 40 years of experience to NMG. He received a Masters of Business Administration from the University of Chicago’s Booth School of Business, and a Bachelor of Science in Accounting from the University of Illinois at Chicago.

“Michael is an excellent choice to serve as our interim chief financial officer and chief operating officer,” said Karen Katz, president and CEO, Neiman Marcus Group. “He is an accomplished leader who brings extensive experience in corporate finance, strategy, financial planning and analysis, logistics and operations to NMG.”