Retail Ventures announces non-renewal of ceo's employment
COLUMBUS, Ohio Retail Ventures announced that it has provided a notice of non-renewal of the employment agreement with president and ceo Heywood Wilansky.
Wilansky is a director of RVI and of its majority-owned subsidiary DSW Inc. The basis for this decision is that, following the company's Jan. 23 disposition of an 81% ownership interest in its Value City Department Stores business, the company determined that the non-renewal of Wilansky's employment agreement will contribute to cost-savings objectives consistent with the new corporate structure.
Pursuant to terms of Wilansky's employment agreement, his employment will end on Jan. 31, 2009.