True Value Company Appoints Retail Veteran Mike Clark To Senior Vice President, Chief Merchandising Officer

Monday, April 28, 2008

New executive team member brings 35 years of merchandising experience

CHICAGO, April 25, 2008 – True Value Company today announced the appointment of Mike Clark as senior vice president and chief merchandising officer, effective May 19. In this role, Clark will be responsible for leading the co-op’s merchandising team which drives nearly $2.0 billion annually in product sales. He will oversee branding and business strategies around product assortments, global sourcing, procurement and pricing. Clark will be located at the company’s headquarters in Chicago and report to President and Chief Executive Officer Lyle Heidemann.

“True Value Company is proud to welcome Mike to the cooperative,” said Heidemann. “A proven, seasoned merchandising expert and corporate leader, Mike will be invaluable as we continue our strong focus on the retail growth and success of our members.”

Most recently Clark was employed by Orchard Supply Hardware (OSH), an 85-store hardware chain in California. At OSH he oversaw all buying decisions, including assortment planning and management of vendor relationships as well as visual merchandising, merchandise marketing and inventory management.

Clark’s background includes a 25-year career at Sears Roebuck & Company, where he held a variety of positions. As vice president and general merchandise manager, he was responsible for the buying and retail replenishment of the tools, paint and plumbing businesses.

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