Borders Group Names Greg Josefowicz President and CEO

Posted on November 15, 1999

Borders Group, Inc. has announced the appointment of Greg Josefowicz as President, Chief Executive Officer and member of the Board of Directors. Mr. Josefowicz, age 47, succeeds Robert DiRomualdo, who has been serving as the Interim President and Chief Executive Officer. Mr. DiRomualdo will remain as Chairman.

Mr. DiRomualdo said, "The Board of Directors and I are extremely pleased to have Greg Josefowicz join Borders. Greg is a seasoned retailer who ran one of America's premier retail organizations and he will help us capitalize on the opportunities ahead. Greg's strengths in marketing, merchandising, logistics, operations and, above all, human resources will make Borders Group an even stronger business in the future. In addition, his experience in database management and e-commerce (as Peapod's Chicago affiliate) will serve to strengthen I'm delighted that our businesses are currently performing very well across the board and with Greg's leadership we are confident that Borders can fulfill its mission as the world's best-loved provider of books, music and other entertainment, educational and informational products and services."

Mr. Josefowicz most recently served as President of Jewel-Osco, a division of Albertson's, Inc. Mr. Josefowicz served as President of Jewel-Osco since 1997 and previously served in myriad roles in merchandising, marketing and operations during his career there, which began as a high school student in 1968. Mr. Josefowicz received the 1999 Illinois Retail Merchants Association Retailer of the Year award in September for his commitment to the retail industry and dedication to the community. Mr. Josefowicz holds a bachelor's degree from Michigan State University and a master's degree from Northwestern University's Kellogg Graduate School of Management, where he continues to serve as a member of the Advisory Board.