Hancock Fabrics’ CFO resigns for new job

By Carlie Kollath Wells/NEMS Daily Journal

BALDWYN – Hancock Fabrics on Friday said its chief financial officer has resigned, effective Dec. 21.
Rob Driskell held the titles of executive vice president and CFO since June 2009. He’s leaving to take an executive position with an unnamed specialty food retailer based in the Midwest.
Hancock said its board on Thursday accepted Driskell’s resignation and appointed Larry D. Fair as interim CFO. Fair currently is vice president and chief accounting officer. The filing with the U.S. Securities and Exchange Commission said Fair will serve as principal financial and accounting officer until a new CFO is appointed.
Fair, 55, is a certified public accountant and has held a number of senior financial management positions with Hancock since joining it in 1985, the company said. Fair has served as Hancock’s vice president and chief accounting officer since March 2007 and prior to that was Hancock’s vice president of finance from June 1996 to March 2007.
In a letter to employees, Hancock CEO and President Steve Morgan said Driskell started the discussion before Thanksgiving and gave his formal resignation Thursday.
“His departure date of Dec. 21, 2012, will allow us to conclude our Christmas season uninterrupted,” Morgan said. “Rob has been well recognized as a strong leader and major contributor for the Hancock Fabrics team and we regret losing him from the Hancock family. However, we also understand from Rob that this is an attractive career situation for him with growth potential, as well as a chance to relocate to an area which will provide significant educational benefits to his family.”
Driskell joined Hancock in February 2009 as CFO and was promoted to EVP and CFO in June 2009.
Morgan said the company has begun the search for Driskell’s successor.