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Borders Terminates President & CFO

Today Borders revealed that president Michael Edwards and chief financial officer Scott Henry have been cut. Former senior vice president of restructuring Holly Felder Etlin has been appointed to replace Edwards. Chief accounting officer Glen Tomaszewski will replace Henry.

Here’s more about the new president:  “Ms. Etlin, age 54, has served as the Company’s Senior Vice President — Restructuring since February 2011. Ms. Etlin is a Managing Director of AlixPartners, a global business advisory firm that provides financial restructuring, bankruptcy reorganization and other advisory services. AlixPartners has been engaged since February 2011 to provide financial restructuring and bankruptcy reorganization advisory services to the Company and its subsidiaries.”

The Borders liquidation will close the company’s remaining 399 stores and cut around 10,700 employees.

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