Tansky to retire from Neiman Marcus in October

Burton Tansky, president and CEO of luxury department store giant Neiman Marcus and subsidiary the Neiman Marcus Group, will retire from his post on October 6.

Tansky, 72, has led Neiman Marcus since 2001. Following his retirement, he will serve as chairman of the company's board.

Karen Katz, president and CEO of Neiman Marcus Stores and EVP of the Neiman Marcus Group, will succeed Tansky. Katz joined the company in 1985. She previously served as president of Neiman Marcus Direct and EVP of Neiman Marcus Stores.

“I am confident that I am leaving the Neiman Marcus Group in capable hands as Karen and her team lead our great company through the years ahead,” Tansky said in a statement announcing his retirement on April 27.

Tansky joined the company in 1989 as chairman and CEO of Bergdorf Goodman. Before becoming CEO of Neiman Marcus, Inc., he served as its president and COO, as well as chairman and CEO of Neiman Marcus Stores.

March revenues for Neiman Marcus Direct, a segment that includes both online and print catalog operations under the Neiman Marcus, Horchow and Bergdorf Goodman brands, increased 11.1% year-over-year.