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Levi Strauss Removes 2 Execs

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From Reuters

Levi Strauss & Co. said Wednesday that it removed two top executives and merged some of its U.S. and global businesses as the company works to revive flagging sales.

The move came one week after the closely held San Francisco-based apparel maker said that marketing chief Gordon Shank was leaving after 25 years and that his duties would go to Chief Executive Philip Marineau.

Levi could also be headed for an undetermined number of layoffs as it revamps to battle smaller labels that have cut into its market share.

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In a memo distributed Monday, Marineau said that longtime executives John Ermatinger, president of the Americas division, and Rob Holloway, vice president of marketing for the U.S., were being removed. Marineau, a former PepsiCo Inc. executive known as a savvy brand-builder, will run the Americas division as the company searches for a replacement for Ermatinger, Levi spokesman Jeff Beckman said.

“While John and Rob are both highly skilled professionals, it is my assessment that they do not have the level of experience and track record in their current roles to accomplish what we need to be successful,” Marineau said.

Merging the U.S. and global marketing, finance and information systems departments is intended to cut costs, Beckman said.

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