Cornerstone names Al-Fayez new CEO

Roxane Al-Fayez, a former top-level executive at Victoria's Secret Direct, has been appointed CEO of Cornerstone Brands Inc., parent company IAC announced yesterday.

Ms. Al-Fayez will be responsible for overseeing all of the Cornerstone businesses, including the multichannel retail brands Ballard Designs, Frontgate, Garnet Hill, Improvement, Smith and Noble, The Territory Ahead and TravelSmith. She will report to Mindy Grossman, CEO of IAC Retailing.

Cornerstone Brands, West Chester, OH, is a division of IAC, a conglomerate of more than 60 diversified brands, including Ask.com, HSN and Ticketmaster.

Since 2005, Ms. Al-Fayez has served as executive vice president at Victoria's Secret Direct and Bath & Body Works Direct, where she was responsible for marketing, Internet and call centers, as well as the launch of BBW.com.

Prior to this position, Ms. Al-Fayez led catalog and e-commerce operations at J. Crew.