Borders Group Inc. (BGP) noted that Ron Marshall has resigned as President, Chief Executive Officer or CEO and a Director of the company, effective immediately. Marshall has accepted the role of CEO with another publicly held retailer, but will assist Borders in the process of transitioning to new leadership.
In addition, the company has named Executive Vice President and Chief Merchandising Officer Michael Edwards as the Interim CEO. Edwards, in his role, would report to McGuire. Also, the company's board has retained Korn/Ferry International to lead the search for a permanent CEO.
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