Syms Corp. (NASDAQ: SYMS) announced Friday that president and CEO Marcy Syms will serve in the additional role of chairman, succeeding her father, Sy Syms, according to Associated Press.
Sy Syms, who founded the company, died of heart failure at the age of 83, leaving the chairman position vacant. Marcy Syms has served as president since 1983 and CEO since 1998.
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Syms acquired discount chain Filene's Basement Inc. in June in a deal worth $65 million, plus some additional charges of Filene's that it assumed. The company teamed with Vornado Realty Trust (NYSE: VNO) on the transaction as Vornado helped provide part of the funding for the acquisition.
The company currently runs 53 stores under the Syms and Filene's Basement brands.
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