Wills to Take Saks CFO Post

NEW YORK – Saks Inc. looks like it’s finally found a chief financial officer.

Kevin Wills, executive vice president of finance and chief accounting officer of Saks, will take the post of executive VP and chief financial officer of the company, effective May 4.

Wills, currently based in Birmingham, Ala., had opted to leave the firm next month when its corporate headquarters were relocated to New York. However, he changed his mind after Michael Archbold, who had been designated to take the CFO post, elected to leave the firm to become executive VP, CFO and chief operating officer of The Vitamin Shoppe.

“I am very pleased that Kevin has reconsidered and has accepted the EVP/CFO role,” said Stephen Sadove, chief executive officer of Saks, to whom Wills will continue to report.

Wills will succeed Douglas Coltharp, the company’s current Birmingham-based CFO, who will become a partner of Arlington Capital Advisors, an investment bank and private equity firm based in Birmingham. Coltharp elected not to make the move to New York when Saks shifts the remainder of its corporate functions here.

Wills has been with Saks since 1997 and has held his most recent post since 2005. He’d previously served as chief operating and administrative officer of Parisian. Prior to joining Saks, he was vice president and controller of the Tennessee Valley Authority and, before that, an audit manager with Coopers & Lybrand.

Saks operates 54 Saks Fifth Avenue stores, 49 Saks Off 5th stores, the saks.com e-commerce site and Club Libby Lu specialty stores.