Stein Mart names Belk vet Stovall president and ceo
GDA Staff -- Gifts & Dec, December 2, 2008
Jacksonville, Fla. – Following a brief search, off-price mid-tier department store chain Stein Mart Inc. has named a new president and ceo – David H. Stovall Jr. He assumes his position Dec. 5.
For the past 15 months, Linda McFarland Farthing has held the post, helping the 279-unit retailer weather the challenging economic period. In October, Farthing – a longtime Stein Mart board member -- announced her plans to leave the post and help Stein Mart search for her replacement.
The company’s board of directors selected Stovall, 61, who has been a Belk Inc. executive for more than 20 years. He joined Belk in 1986 as svp of merchandising and sales promotion, and has since then climbed the ranks. Most recently, he served as Belk’s chairman of the Central Division in Charlotte, N.C. – a post he has held since 2000.
His career experience also includes serving as chair of the Profitt's/McRae's integration in 2005 and 2006, and the Parisian integration from 2006 to 2008.
Prior to joining Belk, Stovall held positions with now-defunct Woodward & Lothrop, Bloomingdale's and former Stewart's in the Washington, DC/Baltimore area.
"David has a solid history of executive management over both store operations and merchandise, and most recently oversaw the integration of Belk's two largest acquisitions," said Jay Stein, Stein Mart’s chairman of the board. "With his leadership, we will build on the initiatives begun during the past year to help transform Stein Mart into the revitalized company that our customers and our stockholders are eager to see us become. I am personally very excited about this hire."
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