Borders chief resigns

ANN ARBOR, Mich. Borders announced that Ron Marshall has resigned as president, CEO and a director of the company, effective immediately, to accept the role of CEO at another retailer.

The company has named EVP and chief merchandising officer Michael Edwards as the interim CEO.  Edwards is a 26-year retail veteran with CEO experience who joined Borders in September 2009 and has been leading the merchandising and marketing teams.  

"We have a clear commitment to drive the top line at Borders Group and there will be no interruption of our strategic plans and efforts to focus with great energy and determination on this goal during the transition," said Edwards.