Ace Hardware Names Dorvin Lively CFO

Ace Hardware Names Dorvin Lively CFO

New Chief Financial Officer Introduced to Retailers, Employees at Ace Convention in Dallas

March 07, 2008 // Franchising.com // Oak Brook, Ill. – Ace Hardware Corporation, the largest retailer-owned cooperative in the home improvement industry, has named Dorvin D. Lively chief financial officer, effective March 20, 2008.

Lively, 49, brings extensive financial and accounting experience to Ace from leading private and public retail corporations. He will oversee all financial-related activities of the company, including treasury, retailer financial services, general and operational accounting, budgeting and forecasting, tax, insurance, payroll and audit services.

"For nearly three decades, Dorvin Lively has been a proven leader in the field of finance and accounting, directing teams in high-growth environments," said Ray Griffith, Ace's president and CEO. "We look forward to the knowledge, experience and vision that he will bring to Ace in both the short- and long-term."

Most recently, Lively served as executive vice president and chief financial officer for Maidenform, Inc., where he enhanced its financial reporting process and managed cost-saving

initiatives surrounding gross margins from supply chain. From 2000 to 2004, he held the position of senior vice president and corporate controller at Toys "R" Us, Inc. Other positions include vice president and corporate controller at Reader's Digest (1998 – 2000); vice president, chief financial officer and secretary at Silverado Foods, Inc. (1995 – 1998); assistant controller at Pepsi Cola International (1992 – 1995); professional accounting fellow at Financial Accounting Standards Board (1990 – 1992); and senior audit manager at Arthur Andersen, LLP (1980 – 1990).

In 1980, he graduated from the University of Arkansas with a bachelor of arts degree in accounting.

Lively will be relocating to the Chicago area from New Jersey. He is married with three children: a son, age 22, and two daughters, ages 18 and 16.

About Ace Hardware

Throughout its 84-year history, Ace Hardware has been known as the helpful hardware store by both customers and communities. With 4,600 hardware, home center and building materials stores that generate annual retail sales of more than $12 billion, Ace Hardware is the largest retailer-owned hardware cooperative in the industry. Headquartered in Oak Brook, Ill., Ace currently operates 14 distribution centers in the U.S. and its retailers' stores are located in all 50 states and 60 countries. More information about Ace can be found at www.acehardware.com.

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