Coldwater Creek Gets New Ceo Former Spiegel Catalog Worker To Take Top Post In Sandpoint

Dennis Pence will step aside as CEO of Coldwater Creek to focus on long-term strategy for the Sandpoint catalog retailer.

Beginning Jan. 1, Georgia Shonk-Simmons will replace Pence as CEO, with oversight of the company’s day-to-day operations.

Shonk-Simmons worked for catalog giant Spiegel before joining Coldwater Creek three years ago. She is currently president of the company’s catalog and retail sales division.

Pence and his wife, Ann, co-founded Coldwater Creek on a shoestring budget in 1984.

The company sells upscale women’s apparel, accessories and home furnishings. Coldwater Creek expects to generate $400 million in catalog, retail and Internet sales during the current fiscal year.

As board members and majority stockholders, the Pences will continue to guide Coldwater Creek into “becoming one of the great American retail brands,” Dennis Pence told analysts Wednesday.

However, Pence began relinquishing daily operations of the company to Shonk-Simmons last year, when he focused on launching the company’s Internet site. He will still serve as Coldwater Creek’s board chairman, and Ann Pence will continue in her role as creative director and vice chairman.

In other news, Coldwater Creek announced earnings of $7.1 million, or 64 cents per share, for its third quarter ending Nov. 25. The earnings reflect 36 percent growth from last year.