More interlocking directorships involving proposed Star Tribune board members …
The two local nominees, Michael Sweeney and William F. Farley, share a common board stint at Wilson’s Leather Experts, Inc. It didn’t end well.
Wilson’s was liquidated in 2008 under its new name, PreVue, Inc. (The clothier earlier sold its name, website and 116 outlet stores to a New York-based company, the Strib’s Jackie Crosby reported.) According to a June 2008 Securities and Exchange Commission filing, Farley succeeded Sweeney as board chair in the company’s final months.
Sweeney joined Wilson’s board in August 2007 after the private-equity firm he still leads, Minneapolis-based Goldner Hawn, pumped $35 million into then-struggling, not-quite-doomed retailer. Farley was on Wilson’s board when Goldner Hawn entered the picture.
As Wilson’s chair, Sweeney tried rebranding stores and hinted at a move to online, telling Crosby at the time, “There’s a great opportunity here to be a nationwide retailer of women’s accessories, where the product is treated with great respect and is recognized for its emotional value.”
It didn’t work out that way. Here’s hoping Sweeney has better instincts about the newspaper biz as the Strib’s board chair.