Borders CFO Mark Bierley resigns in latest change for Ann Arbor bookstore chain
Borders Group Inc.'s chief financial officer is resigning, the Ann Arbor-based bookstore chain said.
CFO Mark Bierley is resigning "to pursue another employment opportunity," Borders said. It's the latest in a series of leadership changes for the financially challenged firm, which has had four chief executives in less than two years.
Glen Tomaszewski, a Borders vice president with 12 years of experience at the company, will serve as interim CFO, officials said.
"We are highly committed to driving the top line at Borders Group, while continuing to prudently manage expenses," said Mike Edwards, CEO of Borders Group subsidiary Borders Inc., in a statement. "As we conduct our search for a new CFO, I will work closely with Glen on carrying out our financial priorities, including maximizing the profitability of our stores and increasing the efficiency of our supply chain."
The change comes less than two weeks after Borders acknowledged conducting more layoffs at its Ann Arbor headquarters. The company, which had 650 employees at its headquarters on Phoenix Drive in Ann Arbor, recently said it would no longer discuss how many employees work here.