New year, new jobs. Bon-Ton Stores, Inc. has named Michael Culhane as EVP and CFO of the company, effective immediately. Culhane succeeds Nancy Walsh who is leaving to take the CFO position at Pier 1 Imports.
In his new role, Culhane will be responsible for accounting, treasury, tax, credit, investor relations, and legal and internal audit.
Culhane brings 30 years of finance and accounting experience and a strong knowledge of the retail industry to Bon-Ton. He most recently served as President and Co-founder of TMAG, Inc., where he provided CFO consulting services. Prior to that, he was CFO at Hudson’s Bay and held a variety of executive roles at Lord & Taylor and May Department Store Group.
"We are very pleased to welcome Mike to our executive leadership team,” said Bill Tracy, President and CEO of Bon-Ton. “We look forward to leveraging his extensive financial expertise and significant department store retail experience as we continue to execute on our initiatives to drive improved performance and strengthen our financial position. We are confident he will be an asset to our team as we continue to engage with our debt holders in our efforts to establish a sustainable capital structure for the company."