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People on the Move: January 27

By Staff -- Gifts and Dec, 1/21/2010 1:18:00 PM

Retail industry lender CIT Group named Peter J. Tobin acting CEO. Tobin will serve until a new CEO is appointed. He replaces Jeffrey M. Peek, whose resignation took effect Jan. 15. Tobin was a director at CIT from May 1984 to June 2001. He returned to the company as a director in July 2002. He was CFO of the Chase Manhattan Corp. from March 1996 through December 1997 and CFO of Chemical Banking Corp. from January 1992 to March 1996. CIT's Board of Directors continues its search for a permanent CEO. Once named, that individual will also serve on the board.

Richard Ruffolo, senior vice president of brand marketing and innovation at Yankee Candle Co., will depart is effective Feb. 3, the company said in a filing with the Securities and Exchange Commission. Ruffolo joined Yankee Candle in September 2005. He previously worked at the Bath & Body Works division of Limited Brands Inc. from 1998 to 2005.

Capel Rugs named Tami Watras as director of merchandising. She will be responsible for the company's strategy and execution of merchandise selection, product development and procurement. Watras, who joined the company in 2006 as merchanidse manager and most recently served as the general manager of the retail division, will report to John Magee, president and CEO, Capel Rugs. She previously held position in merchandising, product development and sourcing for Ethan Allen, Amy Coe and Liliian August Designs.

Williams-Sonoma Inc. chairman and CEO and member of the board Howard Lester will retire in May. Lester has led the company since 1978 when he purchased it from its founder, Chuck Williams. Lester will continue to assist the company in a consulting and advisory role through December 2012 and have the title of Chairman Emeritus. Laura Alber will become CEO in his place, as well as a nominee to the board of directors. Alber joined the company in 1995 and was appointed to her current role as president in 2006.

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