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Retail Industry Veteran Joins QRS Board of Directors
RICHMOND, Calif.
– January 30, 2003 – QRS Corporation (Nasdaq: QRSI) today announced that Jeremiah J. Sullivan has joined the QRS board as a new independent director. Mr. Sullivan will complete the term of retiring board member Peter Johnson and stand for election to a 3-year term at the Company's 2003 annual stockholder meeting.
Mr. Sullivan has been a retail industry leader for more than 40 years. Most recently, he served as Chairman and CEO of Macy's West, a division of Federated Department Stores, Inc. Prior to that he was president of Macy's West and Federated's Lazarus division. Before joining Federated, he was president of Filene's and executive vice president at I. Magnin.
During Mr. Sullivan's tenure at Macy's West, which began when Federated acquired the company in early 1995 and ended when he retired June 1, 2002, Federated recognized Macy's West three times as the outstanding performing division of the company. The cumulative effect of the best comparable store sales increase over that period, plus the acquisition of the Broadway Corporation and Liberty House Hawaii, made Macy's West arguably the most valuable department store franchise in the corporation.
"I'm very honored to be joining the QRS board. I have always been impressed by QRS' contributions to the retail industry. The company understands retail and creates technology solutions that address the biggest challenges in our business," said Mr. Sullivan.
Mr. Sullivan will replace retiring Board member Peter Johnson, effective immediately. Mr. Johnson was the advisor to the original group of retailers and vendors – including Wal-Mart Stores, Inc.; VF Corporation; Federated Department Stores, Inc.; Milliken & Company; Dillard's, Inc.; and Levi Strauss & Co. – that established the retail industry's quick response initiative in 1987. This group went on to form the Voluntary Industry Commerce Standards Committee (VICS), and Johnson founded QRS in 1988 to address the industry's current and emerging needs. He served as Chairman of the Board for QRS through May 2002.
"In our planned transition of the Board to one composed of a majority of independent directors, it was important that we maintain the outstanding retail industry expertise that Peter Johnson has always represented for QRS," said Liz Fetter, president and CEO. "Jerry Sullivan's impressive background and depth of retail experience will be key to QRS as we continue to execute on our strategies for growth. I am very pleased to welcome him to the QRS Board."
Ms. Fetter added, "We will miss Peter's passion for the retail industry, his joy of entrepreneurship, his unwavering integrity and his steadfast belief that an enterprise's most important resource is its team of people. We will strive to ensure that the values, ideas and inspiration Peter brought to QRS will remain with us always."
About QRS
With headquarters in Richmond, California, QRS (Nasdaq: QRSI) has been building solutions that automate the way companies connect, collaborate and transact since 1988.
Today, QRS delivers collaborative commerce software and services that enable retail companies to bring products to market quickly and profitably. With an extensive commerce solution for companies of any size or technology infrastructure, only QRS combines total electronic communication with the retail industry's most extensive source of product information for accurate retail partner transactions. QRS also allows companies to see and manage processes across the supply chain so that problems can be detected and resolved. More than 8,000* customers from over 20 vertical markets – including Sears, Roebuck and Co., Selfridges plc and Jones Apparel Group – use QRS to meet customer needs, compress cycle times, reduce costs and improve sales margins. Learn more about QRS at www.qrs.com.
* Based on total, unique QRS corporate customers that purchased or licensed QRS products and services between January and December 2002.
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