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Michaels Resigns From Waverly

December 7, 2001

New York - Christiane Michaels, president and general manager of Waverly, has left the company to join Bath & Body Works, a division of Intimate Brands, a company of Limited Inc., where she will serve in the newly created position of president of the White Barn Candle Company.

For the last five years, Michaels has been responsible for overseeing the development of a more high profile market presence for the Waverly brand. She has wrought numerous changes bringing new creative energy to Waverly, the company said.

"Christiane has been an asset to F. Schumacher & Co. and the Waverly brand," said Gerald Puschel, president and CEO of F. Schumacher & Co., Waverly's parent company. "Her background and substantial expertise in the industry have helped propel Waverly toward on many fronts. I am happy she has this opportunity and wish her the best. She will be missed."

Sources within the company said that Puschel will take over day-to-day operations until the company names a successor.


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