Brown Shoe (BWS) is down about 2% this morning after saying Diane Sullivan will become CEO, effective May 26, replacing Ron Fromm.
Fromm will remain board chairman.
The company late last week reworked its $380 million credit facility, reducing the yearly interest rate by 50 basis points and modifying several operating covenants to give the firm more flexibility.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...