Stein Mart announces new ceo

JACKSONVILLE, Fla. Stein Mart Inc. today announced the appointment of Linda McFarland Farthing as president and ceo of the company, following the resignation of Michael Fisher, who has held that position since 2003.

Farthing has been a member of the Stein Mart board of directors since 1999 and chair of the company's audit committee since 2003. She has an extensive retail leadership background, most notably as president, coo and director of The Cato Corp. from 1990 to 1997 and president, coo and director of Friedman's Inc. in 1998. Prior to those roles, she was senior vp and general merchandising manager for the J.B. Ivey Co., a Charlotte, N.C.-based regional department store chain, for 11 years.

"I am excited about the opportunity to help Stein Mart reach its full potential," commented Farthing. "This company has a strong and profitable history, and a tremendous franchise of loyal customers. I look forward to a successful new chapter in that history, built on the company's demonstrated commitment to provide great fashions at compelling prices, in a way that creates value for customers, associates and shareholders."

Fisher's resignation is effective immediately. Farthing will assume her new duties on or about Sep. 24.