Hecht Named Chairman of the Broadway

H. Michael Hecht, president of the Broadway-Southern California, will become chairman and chief executive March 15, replacing M. W. Proudfoot, who is retiring, the chain’s parent company said Monday.

Carter Hawley Hale Stores, based in Los Angeles, also announced that Richard Clayton will become president of the 41-store chain, moving from his post as executive vice president-finance and operations of the company’s Emporium Capwell division in San Francisco.

Hecht, 46, joined the Broadway in 1975 as executive vice president-merchandising and sales promotion and was named to his current post in February, 1984. Clayton, 44, has been at Emporium Capwell since 1981.

In 34 years at Carter Hawley Hale, Proudfoot, 65, worked at a variety of divisions before being named chairman of the Southern California Broadway stores in February, 1984.

Analysts viewed the management changes as straightforward but noted that they come at a time of especially fierce competition for the Broadway and other department stores in Southern California.

“California has been under the gun,” said Stanley H. Iverson, who is with Duff & Phelps in Chicago. “They (retailers) have just completed their fiscal year for sales and specialty stores did a good bit better than department stores.”

In its most recent fiscal year, Carter Hawley Hale reported 73% of its sales from department stores and 27% from specialty stores, including Neiman-Marcus and Contempo Casuals.

The company said Peter J. Lynch, senior vice president-controller of Emporium Capwell, will succeed Clayton, becoming senior vice president-finance.