What: Saks Global appoints former Neiman Marcus finance executive Brandy Richardson as CFO to drive financial performance during its post-merger transformation phase.

Why it is important: This leadership change comes at a crucial time as Saks Global navigates complex financial restructuring, vendor relationships, and operational integration following its USD 2.7 billion merger.

Saks Global has appointed Brandy Richardson as its new chief financial officer, effective August 18, 2025, succeeding interim CFO Mark Weinsten. Richardson brings nearly 25 years of experience to the role, including 15 years at Neiman Marcus Group in various finance leadership positions and most recently serving as executive vice president and CFO at Tailored Brands. The appointment comes as Saks Global executes its ambitious transformation strategy following the acquisition of Neiman Marcus Group in December 2024. CEO Marc Metrick emphasizes Richardson's deep background in both luxury retail and finance as crucial for driving the company's financial performance and capitalizing on growth opportunities within the luxury market. Her appointment marks a return to luxury retail at a transformative time for the company, with Weinsten having led the initial stages of financial integration post-merger. Richardson will be based in Dallas and report directly to Marc Metrick as part of the Saks Global Management Team.

IADS Notes: The appointment of Brandy Richardson as CFO comes at a critical juncture in Saks Global's transformation journey following its USD 2.7 billion acquisition of Neiman Marcus in December 2024. The merger, backed by technology giants Amazon and Salesforce, created a USD 10 billion luxury retail powerhouse that has undergone significant organizational changes. In January 2025, the company established a unified commercial team under Emily Essner, eliminating traditional roles in favor of an integrated, technology-driven approach. By April 2025, the transformation had led to a 14% reduction in corporate workforce and a 25% reduction in brand partnerships. Richardson's appointment follows several key leadership changes and comes as the company faces mounting challenges, including vendor payment issues and declining sales, with bonds trading at 58 cents on the dollar as of May 2025.

Saks Global welcomes Brandy Richardson as chief financial officer