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Crate and Barrel Names Barbara Turf to Succeed Co-Founder Gordon Segal

NORTHBROOK, Ill., Jan. 29 PRNewswire — Crate and Barrel Co-Founder and CEO Gordon Segal announced today that Barbara A. Turf, President of Crate and Barrel, will succeed him at the nationally recognized home furnishings retailer on May 1, 2008. Ms. Turf has spent the majority of her career partnering with Segal in the leadership and strategic direction of the company. Though Segal will no longer direct Crate and Barrel's day-to-day operations, he will assume the title of Chairman and will continue as a key advisor and counselor.

"I am thrilled and honored to be handed the reins by Gordon and lead this wonderful company," said Turf. "With rising consumer interest in well-designed, high-quality products at a great value, Crate and Barrel is well-positioned to continue our growth well into the future."

Crate and Barrel was co-founded by Gordon and Carole Segal in Chicago in 1962. Gordon Segal took the title of CEO in 1996, when he named Barbara Turf to succeed him as President. Crate and Barrel remained privately held until 1998, when Otto Versand GmbH, now Otto Group, acquired a majority holding in the company. Today, with annual sales of more than $1.4 billion, the multi-channel retailer has 160 stores across the U.S., a thriving internet business and plans to open its first international location later this year.

"I have relished every moment of the last 45 years," Segal stated. "However, I also recognize that transition and change are key to the growth of any retail business, and I want to give Barbara Turf and other talented members of our executive team their well-deserved opportunity to take Crate and Barrel into the future. Barbara is the perfect choice as my successor — she is truly a retail visionary, and no one understands our business, our merchandise, our associates or our customer better. With Barbara at the helm, I am confident that Crate and Barrel will continue to grow and prosper."

Prior to becoming President of Crate and Barrel in 1996, Ms. Turf held the post of Executive Vice President of Merchandising and Marketing for many years, maintaining responsibility for all aspects of product selection and branding.

A graduate of the University of Illinois, Ms. Turf is a resident of Chicago's North Shore.

SOURCE Crate and Barrel