American luxury specialty department store Neiman Marcus has announced departure of its CFO & COO Michael Fung. He is set to leave the company on June 30, 2017. His consulting agreement with the retailer started in November last year.
He joined the company on an interim basis and led the Finance, Accounting and Operations teams and was instrumental in directing efforts to stabilize NMG One, the company’s recently implemented common merchandise and distribution system.
“Michael has done an excellent job. His leadership and extensive experience have brought significant progress with NMG One. We very much appreciate Michael’s commitment and service to NMG,” said Karen Katz, President and Chief Executive Officer, Neiman Marcus Group.
T. Dale Stapleton will succeed Fung, and assume the interim CFO role on June 30. Stapleton has been with Neiman Marcus Group for more than 16 years, and been in his current job since 2010.
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