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Williams-Sonoma Names Dole Exec New CFO

July 09, 1999|Bloomberg News

Williams-Sonoma Inc. said it tapped John Tate, chief financial officer at Dole Food Co., as chief financial officer. Tate succeeds Dennis Chantland, who is retiring, and will report to Chairman Howard Lester. San Francisco-based Williams-Sonoma, which sells home goods through specialty stores and catalogs, also announced the appointment of Cynthia Archer as senior vice president of operations for its catalog and Internet businesses. When Chantland announced his retirement in March, Wall Street reacted nervously, sending the company's stock down 19% in one day. He was perceived by investors as a key executive who helped turn around the company. The stock has since recovered some of its value but has not come back to the $36-plus range it maintained on and off in the months before Chantland said he would leave. Williams-Sonoma shares gained 88 cents to close at $33.19 on the NYSE.

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