Why Sam’s Club is hiring a new manager
Sam’s club has hired a new president and CEO, bringing to a close a five-year run that began with an unexpected shake-up.
The Chicago-based chain said on Tuesday that David G. Cohen will take over as president and chief operating officer.
Cohen, 53, will be the first African American to hold both roles at the chain.
He will be succeeded by Scott S. Williams, 58, who will assume the role of CEO.
The company said Cohen will lead the chain’s corporate culture, as well as its growth strategy.
He has more than 25 years of corporate experience and is known as an executive who is driven and has a strong business vision.
Cohen joined Sam’s in 2009, joining from the Chicago-area sports apparel chain Athleta.
He also spent six years as president of apparel company Sportsman’s Goods.
In his new role, Cohen will oversee all aspects of Sam’s brand.
Sam’s has a focus on youth, wellness and technology, with an emphasis on expanding its online presence and social media presence.
Sam’s had a difficult past year as the chain struggled to maintain its leadership position in the retail space.
Its shares lost 6.5 percent in the second quarter, and it lost $1.3 billion in the first half of the year.
Sam will also be in charge of marketing and promotions for the chain, according to the announcement.
Cohen previously served as a consultant for the sports apparel company, and previously as an assistant vice president of sales and marketing for the NBA’s Dallas Mavericks.
In addition to his current role, he will serve as the chairman of Sams International Group, which includes Sams Club and Sams Sports, and will serve on Sams Group’s board of directors.
Cohens family will continue to be involved in the Sams group as well.
His wife, Barbara Cohen, will serve in that capacity, as will his brother, Sam Cohen, who is also president and COO of Sam.