NEW YORK – Michael Archbold, who was slated to become executive vice president and chief financial officer of Saks Inc. on May 4, is leaving the company to become executive VP, CFO and chief operating officer of The Vitamin Shoppe, Saks said Tuesday.
Archbold is currently executive VP and chief financial and administrative officer of Saks Fifth Avenue, but was scheduled to take the corporate position early next month.
Saks said that Archbold’s current position at SFA won’t be filled, but Stephen Sadove, chief executive officer of Saks Inc., commented, “We are very fortunate to have a talented and experienced team in place to perform our financial reporting and other financial functions until we fill the Saks Inc. EVP/CFO post.”
Archbold joined Saks in his current post in October 2005 after serving as EVP and CFO of AutoZone. He was designated to succeed Douglas Coltharp, Saks Inc.’s current CFO, last October when Coltharp informed Saks he wouldn’t remain with the company after corporate functions were moved to New York from their current base in Birmingham, Ala.
Saks operates 54 SFA stores, 49 Saks Off 5th stores and Club Libby Lu specialty stores.