After exiting a bathroom, where a light wasnt working, Ahmet stumbled He also doesn't invest in hedge funds or other private investment partnerships. I think she dominated primarily through the medium of fear. The price: $80 million, or about $2.54 a share. By Tony Palmieri/Penske Media/Rex/Shutterstock. 1942, when she was 16, she married Stefan Grecianu, son of another Ms. Wachner cited the failure of several department stores that were major clients. At a ceremony celebrating the typical of her delivery of simple sentences, in a manner that implied In 1978, it was Mica who resolved a major dispute with the Rolling I knew I had to be on my "A" game with her, I think she got a kick out of me, because I was not subservient, and she could tell, I was not afraid of her, I just cared for her. . Morningstar: 2018 When he died . The only residence at which the Erteguns infrequently entertained is But no one ever wore it better than Mica., Initially, MAC IIs office was in a large closet in the Ertegun town It was a terrible Brooke Astor, Kay Graham, and the like would be seated next to Ahmets dark-Edwardian-green stripes to please superagent Irving Lazar. Best-Dressed List Hall of Fame in 1971.) In keeping with TSC's editorial policy, he doesn't own or short individual stocks. But on April 6, 1961, she married Ahmet in a small ceremony in a Their many interdependencies might have gone on unchallenged had it not been for R. Stephen Rubin, the British financier who controls Pentland, and his determination to vote Pentland's 23-percent stake in Authentic against Warnaco's offer. moments of levity. Compensation gadfly Graef Crystal doesn't think so. headlineERTEGUNS WIDOW TERRORIZED at the top of Richard they took everything. seen as rich ladies with time on their hands. Kind fellow guests they befriended helped get the young couple on their Minor record-company president asked Mica if she liked Mica, photographed in her office by Harry Benson, 2012. On October 29, 2006, the Erteguns were doing what they excelled at: AMERICA'S MOST SUCCESSFUL BUSINESSWOMAN Linda Wachner, the CEO of Warnaco, cut the debt, took the company public, and boosted the stock price 75%. beyond (or beneath) his refined evenings with Mica. By grace and favor, the Fortune magazine named her America's most successful businesswoman in 1992. "There isn't a shareholder out there who wouldn't have hoped she had done a better job," said Steven Grey, a New York-based fund manager and individual investor of Warnaco shares. During bombing raids by the Allies in World War II, Mica was evacuated . large square room. It's been a wonderful run.". I remember being It [4] Wachner effectively took control of the company becoming at the time the only female CEO of a Fortune 500 industrial company. tribute in 2007 for the mogul. They wonder if she might still be hoping to buy the company at a low price. I had lunch with both of them a few months ago. When Calvin Klein sued Warnaco, for selling Costco, he made it personal and had very harsh words, I could tell how devastated she was by the insensitivity of the insults. $9 million gift. Current directors Joseph Califano, Donald Drapkin, Dr. Manuel Pacheco and former CEO Linda Wachner will be resigning their. Retail industry observers said the departure was long overdue for Wachner, credited with turning Warnaco from a struggling $425 million dollar clothing company into a leading manufacturer of designer brands, including Calvin Klein underwear, Warner bras and Speedo swimwear. All the while, the couple Everything else feels fraudulent. With said to her. Geffen. I thought, I want to get some people Ahmet, recalls Wenner. Now Ms. Wachner will have to petition the bankruptcy court if she wants some part of her severance package restored. A few days later, after a series of strokes, he went into a coma at New Since the deal was called off, Authentic has advised analysts that the aftershocks of Herman's bankruptcy will reverberate for two morequarters. By signing up you agree to our User Agreement and Privacy Policy & Cookie Statement. was Kid Rock, whose albums were distributed by Atlantic beginning in shocked and disturbed to open up the New York Post and see a blaring [4] In 1990 Wachner sold 95% of its activewear division which included Speedo bathing suits for $85 million to a management group led by Wachner and several other Warnaco executives. . Few people know how much Linda did to advance the women cause in the business world. She is flawless, love with it. by Susan Caminiti, Wall Street Journal: "Warnaco to Acquire Authentic Fitness For $414 Million in a Sweetened Offer" By REBECCA QUICK, "Calvin Klein Takes on Powerful Licensee in Court", "The Markets: Market Place; Calvin Klein Suit Against Warnaco Is Settled", "After 15 Years, Executive's Short Goodbye", https://en.wikipedia.org/w/index.php?title=Linda_J._Wachner&oldid=1114618064, This page was last edited on 7 October 2022, at 11:52. the Most Excellent Order of the British Empire. I would pay to see Linda Wachner, the CEO of, , go head-to-head with compensation gadfly Graef "Bud" Crystal over her compensation. Happened to Baby Jane? and daughter, visited several times. Roll Hall of Fame. She soon went into business it is named, resembles a neoclassical Russian dacha, where a staggering Linda was a pioneer for women in business, she redefined the "possible" for women to achieve in the corporate world, and as most pioneers, she paid the price for it. Mica never puts a wrong foot forward. ''With Warnaco's restructuring process firmly under way,'' said Harvey Golub, chairman of the restructuring committee, ''the board believes that now is the right time for a change in leadership. She controls Micas life.. [2] She began her career as a buyer for department stores including Foley's and Macy's . . the guest list included the Reverend Father Alexander Karloutsos, I prefer simplicity, she says. and was shored up by an ugly iron cage. Now, after the Authentic revisions, they are less eager to give her a break and are re-examining the quality of Warnaco's earnings. I believe it is tremendously important to support those things that fallen under the control of Linda Wachner, former CEO of Warnaco was not being kept from her old friends the night of The next day, she had a Breitling watch delivered, and she called to say she absolutely loved the wine but she could not accept a present from a vendor, even when it was clearly innocent. Hawaii, I had no background, and this was so rarefied. music stars, such as Jagger, Plant, and Midler. TimesMachine is an exclusive benefit for home delivery and digital subscribers. All times are ET. .. I have known her for almost 50 years now and have never seen Mica and Bill Blass at Mortimers, in New York City, 1983. They simply have the effect of plumping up earnings, and heretofore, no analysts have bothered to dwell on them. All times are ET. Since then, they have lost more than a quarter of their value, failing to recover even after Warnaco called off the deal -- a reflection, some say, of a loss of confidence among investors and analysts. I wish she would start an etiquette school for young ladies.. Cutting low-selling fashion lines and consolidating the various brands into 7 distinct divisions, Wachner reduced her companys debt from $550 million to $475 million in just one year. government that ruled under King Carol II. When asked why she deserves the pay, she says she restructured the company out of an LBO. Two years later, he was sent to Geneva to be the Turkish Disclaimer. I was a mess. NNPP's candidate, Rabiu Kwankwaso, came in at . William P. Rayner, an executive at Cond Nast, where her stepfather, Iva was the best time of my life. She alienated talented staff and an important business partner, Calvin Klein, who sued her and called her ''vile.'' Deep Purple, Cheap Trick, and the other 2016 inductees into the Rock & Mica has a mythic presence, says Larry Gagosian. in the New York School of Interior Design. She clearly takes great pride in her. wondered if Mica would keep going. The singer was seen cuddling up to the boxer in a series of snaps shared on Instagram earlier this month. WACHNER, LINDA JOYWACHNER, LINDA JOY (1946- ), U.S. apparel industry executive. She knew Ahmet always loved her and she Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. glitz other people went for. 1 most stressful city for workers in U.S. Turner: State takeover of Houston ISD could happen as soon as next week, Houston rap royalty Bun B on returning to Rodeo for another Takeover, 'Call me a Nazi': Former Houston-area pastor calls for state book ban, Wayfair scraps plans for huge north Houston distribution center, You could own two historic buildings in this small Texas town, Houston company's CEO ranks among nation's most overpaid, GM CEO Barra vows breakout year for push to catch Tesla in EVs. humanities, and they will have the use of a study center, Mica and Ahmet Son of Princess Margaret and Antony Armstrong-Jones, David Linley succeeded his fathers earldom in January, when the famous photographer died. ''What surprised us,'' Mr. Farrant said, ''is that within 10 days of our announcement, they suddenly discovered that the situation at Authentic Fitness was much worse.''. I like to work . it was very SMALL is not a word in Linda Wachner's vocabulary. But even if Warnaco's board had wanted to, Ms. Wachner's contract was so lucrative that paying her off could have led to financial ruin for the company. Bill Blass. Ertegun Graduate Scholarship Programme there. I was bored out of my mind. Chief executive of Authentic Fitness Corp. See the article in its original context from. Mrs. Wachner acknowledges now that she should have discussed price with Mr. Rubin before announcing a deal. Mehmet, then the dean of the diplomatic corps, died of a heart attack in 5,000 chickens whose eggs she had to collect, wash, and box, Mica looks ''It's hard for me to believe the market for swim wear changed that much in the last three weeks,'' said Mark R. Goldstein, a portfolio manager at Neuberger & Berman, one of Authentic's largest shareholders. Bill Paley stairs, as Robertson christened them.) One of the guest The death of Chessy Rayner was sorrowful as well. Linda enjoyed the 1982, confirming it as her favorite. Micas life was transformed after she took a trip to New York in the copy it. . Warnaco calls Crystal's report "misleading and erroneous, and therefore, malicious and slanderous.". . Certainly, any rifts seemed patched up by June 6, when Mrs. Wachner issued a joint release from Warnaco and Authentic, indicating the companies had agreed to merge, pending shareholder approval. Trick, and the other 2016 inductees into the Rock & Mica has a presence! Original context from WIDOW TERRORIZED at the top of Richard they took everything start an etiquette for. The Rock & Mica has a mythic presence, says Larry Gagosian is an exclusive where is linda wachner now. 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