Borders Names New Chief Executive

Borders Group Inc. named Greg Josefowicz as chief executive and president, replacing Robert DiRomualdo, who remains chairman. Josefowicz, 47, most recently served as president of Jewel-Osco, a food and drugstore chain owned by Albertson’s Inc. DiRomualdo took over as Borders’ interim president and chief executive when Philip Pfeffer resigned in April after just five months as CEO. Borders plans to tap Josefowicz’s experience in database management and Internet retailing to help strengthen Borders.com. Ann Arbor, Mich.-based Borders’ shares rose 75 cents to close at $14.06 on the NYSE.