Bon-Ton Stores has appointed Michael Culhane to the position of evp/chief financial officer, effective immediately.
Culhane will be responsible for accounting, treasury, tax, credit, investor relations, legal and internal audit. He succeeds Nancy Walsh, who is leaving the company effective as of January 22, 2018, to take the CFO position at Pier 1 Imports.
He brings more than 30 years of finance and accounting experience the company. He was most recently president and co-founder of TMAG, Inc., providing CFO consulting services. Prior, he served as chief financial officer at Hudson’s Bay Company and has also held various executive roles with Lord & Taylor and May Department Store Group.
Bill Tracy, president and CEO, Bon-Ton, said, “We are very pleased to welcome Mike to our executive leadership team. 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.”