Borders Names McGuire Head of the Board
-- Publishers Weekly, 1/13/2009 7:47:00 AM
A week after embattled retail chain Borders named Ron Marshall its new CEO, the company has tapped Richard “Mick” McGuire to be chairman of its board. The 32-year-old former hedge fund exec is replacing Larry Pollock, who's held the non-executive post since July 2006; Pollock is keeping a seat on the board.
McGuire joined the company's board in 2008 as part of his role at Pershing Square Capital, the firm which is the retailer's largest investor. (Pershing Square also had a stake in Barnes and Noble, but dumped its shares in that chain on Monday.) The move, therefore, points to Pershing Square's increasing control of Borders. At Pershing Square McGuire handled investments in retail, consumer products and business and financial services. Before Pershing Square McGuire worked for, among others, J.H. Whitney & Co. and Stonington Partners.
