13679 Wed, 01/30/2008 - 11:47am
NORTHBROOK, Ill.–Barbara Turf, president of Crate & Barrel, will succeed Gordon Segal, the retailer’s iconic co-founder and chief executive officer, on May 1.
Segal will relinquish Crate & Barrel’s day-to-day operations but assume the chairman title. He will continue on with the company as a key advisor.
Crate & Barrel was co-founded by Gordon and Carole Segal in Chicago in 1962. Segal took the title of CEO in 1996, when he named Barbara Turf to succeed him as president. Turf has spent most of her career in partnership with Segal in leading the company.
“I have relished every moment of the last 45 years,” Segal said. “However, I also recognize that transition and change are key to the growth of any retail business, and I want to give Barbara Turf and other talented members of our executive team their well-deserved opportunity to take Crate & Barrel into the future. Barbara is the perfect choice as my successor -- she is truly a retail visionary, and no one understands our business, our merchandise, our associates or our customer better. With Barbara at the helm, I am confident that Crate and Barrel will continue to grow and prosper.”
Crate and Barrel remained privately held until 1998, when Otto Versand GmbH, now Otto Group, acquired a majority holding in the company. The $1.4 billion retailer operates 160 stores. It will open its first international store in Canada this year.