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Michael J. Babcock, 45, has become president and CEO of Bonwit Teller, a New York-based specialty store chain recently purchased by the Australian real estate developer Hooker Corp. He succeeds William Ruben, who will serve as Bonwit’s vice chairman-merchandising. Babcock resigned as chairman and CEO of Federated Department Stores’ Filene’s division in Boston, a post he had held since January, 1984.
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