Passmore ends term as Enesco president
Staff -- Home Accents Today, 5/1/2006
Cynthia Passmore has ended her turbulent term as president and CEO of Enesco, a leading giftware vendor, its board of directors announced. Passmore will continue as a consultant to the Itasca, Ill.-based company until Sept. 15.
Basil Elliott, executive vice president of Enesco's Canadian subsidiary, N.C. Cameron, was named interim CEO, effective May 15.
The Enesco board also appointed Marie Graul as interim chief financial officer. Graul served in an advisory capacity to Enesco's finance team for the past six months.
The board formed a search committee to find a permanent CEO, CFO and executive vice president who will be the right fit with Enesco on a long-term basis.
"We are pleased to have Basil Elliott, as well as Marie Graul, leading the company's efforts in implementing our operating improvement plan and continuing the significant progress achieved to date," said Anne-Lee Verville, chairman of the board of Enesco. "Basil's long tenure with Enesco's Canadian subsidiary and deep knowledge of our industry will help ensure a smooth transition."
Verville recognized Passmore's contributions since she joined Enesco in October 2004 and became president in January 2005 as helping to focus Enesco by "eliminating the unprofitable U.S. Precious Moments business, initiating the operating improvement plan and working effectively with Jim Shore to grow the Heartwood Creek brand globally." Prior to joining Enesco, Passmore was senior vice president of customer marketing and retail design at Revlon.
Passmore surprised a group of Enesco employees early this year when she revealed having a personal relationship with Andy Rolfe of Keystone Consulting Group, an outside consultant hired to help turn Enesco around. At the time, the board stood behind Passmore, who also found support from Shore. The designer had settled a legal dispute with Enesco and agreed to a contract he can end if Shore is not satisfied with results of a change in Enesco's leadership.
Passmore said she will work with Elliot and Graul to transition leadership "so that our customers and key stakeholders continue to see strong partnership and improved performance from Enesco."
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