Borders Announces Management Changes

The second largest book retail chain in the United States restructured its senior management this week, a day after the company reported a higher-than-expected second-quarter loss.

Borders named Cedric J. Vanzura, the president of Borders Group International, Paperchase Worldwide and information technology, as president of emerging business, strategy and technology, and Vincent E. Altruda, the president of Borders Group U.S., as president of Borders Worldwide. Both will report to new Borders Group CEO George Jones. Several other members of the management team will also now report to Jones.