Pier 1 Imports Inc. on Wednesday, Nov. 3, announced the appointment of Nancy A. Walsh, 57, as executive vice president and chief financial officer, effective January 25, 2018. Walsh will be responsible for financial operations and accounting, including financial reporting, planning and analysis, treasury, tax and investor relations. Darla D. Ramirez will step down as interim chief financial officer when Walsh’s appointment becomes effective, and will continue to serve as the company’s principal accounting officer and vice president – controller of the company’s operating subsidiaries.
“Nancy comes to Pier 1 Imports with an extensive background in finance and retail,” said Alasdair James, president and CEO. “She has spent the better part of her 30-year career amidst iconic brands, home furnishings and specialty retail. We are confident Nancy has the financial skills and leadership needed to drive the strategic plans we’re presently developing. We are excited to have her join the Pier 1 Imports team.”
Walsh joins Pier 1 Imports from The Bon-Ton Stores Inc. (OTCQX:BONT), where she served as executive vice president and chief financial officer since 2015. Previously, Walsh spent 14 years in the finance organization at Tapestry Inc. (NYSE:TPR), formerly Coach, Inc. She began her tenure with Coach as chief financial officer of the Worldwide Wholesale Division and held positions of increasing responsibility until being named senior vice president, finance, a role she held for six years. Earlier in her career, Walsh held positions in finance and treasury with Viacom Inc. (NASDAQ:VIAB) and Timberland Company (NASDAQ:TSBK). She has a B.A. from University of New Hampshire – Durham and an M.B.A. from Northeastern University.
According to a filing with the Securities and Exchange Commission, Walsh will receive a base salary of $575,000 per year. She will be eligible for a short-term incentive of 125 percent of her base salary for fiscal 2019 and thereafter will participate in the plan at a level commensurate with other senior officers (currently a target bonus opportunity equal to 75 percent of base salary), according to the filing. Walsh is eligible for a sighing bonus of $200,000 after 30 days on the job and will receive $750,000 worth of restricted stock. .