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Lords New Master

Fashion Inc.

by Sara Clemence
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Sep 26 2008 1:51pm EDT

Lord's New Master

Jane Elfers is out as president and C.E.O. of Lord & Taylor, and will be replaced by Brendan Hoffman, head of Neiman Marcus Direct, WWD reports. More changes are expected at the department store chain, which is owned by Hudson¹s Bay Trading Co.

No word yet on what spurred the shift, but just two weeks ago Portfolio.com got word that NRDC Equity, the owner of Hudson's Bay, had injected $30 million into the chain over the last few months, and planned to invest another $50 million. At the time, NRDC's Richard Baker denied that Lord & Taylor had suffered operating losses.

By Sara Clemence

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