Verna Gibson has been given the distinction by Forbes as the first woman chief executive officer of a Fortune 500 Company. And she started her career in retail right here in Huntington, working at The Smart Shop while studying at Marshall.
That's where she met her husband, Jim. When his career took them to Columbus in 1971, a colleague she knew through her retail experience told her about a friend of his who had started a chain of women's clothing stores called The Limited. His name was Leslie Wexner.
She soon started as an assistant buyer. She kept books, worked as a buyer and worked her way up the ladder before reaching the highest rank in 1985.
Gibson since has had numerous leadership positions in retail organizations, but has kept ties with Huntington and Marshall, where she sits on the Board of Governors.
Sunny Schenz worked with her for more than 20 years with The Limited, and said it was amazing to watch all the positive changes that came along under her leadership.
"Every time I think of Verna, I think of a very strong, wise business woman, and underneath that strength is a warm and caring person with a heart of gold," Schenz said. "She's a beautiful human being. She's very down to earth. That's the beautiful thing about her and Jim; they're such good people."
The Herald-Dispatch exchanged e-mails with Gibson about her background and what it takes to succeed in retail. Here's what she had to say:
Question: Where did you attend school and what type of training did you get?
Answer: I attended Marshall and studied Marketing Retailing simultaneously working at The Smart Shop in Huntington. The combination of work-study is invaluable in retailing and I was fortunate to have great mentors both at the Smart Shop and from Marshall's professors. I developed a passion for the field and I believe that is necessary for any great success.
Meanwhile the studies at Marshall broadened my appetite for psychology (invaluable in management) and a lifelong interest in history. My training continued at The Limited starting in 1971 as specialty retail changed from single store owners to multi-store operations. This required learning international skills and increased management skills.
The Limited also had a close association with Ohio State marketing and business school, plus we took continuing education with the American Management Association. I am an avid reader and believe one never stops getting an education.
Q: Advice for those trying to succeed in retail?
A: Retailing requires a huge commitment of time and energy, so it is essential to have a passion for business. It embodies the management of change since retailing must respond to changing customer demands or face failure. You have to love forecasting and managing change.
Q: What do you enjoy most about retail?
A: I enjoy and am exhilarated by the changing world of retailing and love to develop and lead businesses to a new strategic vision. Marketing is also a passion, i.e. communication of the change and differentiating the business from others. One of the toughest lessons I had to learn was that not all individuals embrace change and learning to respect that it is a difficult process to lead an entire management team to share a new vision.
Q: Thoughts on West Virginia?
A: Both my husband Jim and I are grateful for our West Virginia heritage; strong values and hard work. I received the support and encouragement of my family, and the Marshall family. We remain committed to the Huntington community, Marshall and feel strongly that it is a responsibility to give back to those who helped you succeed.
Verna Gibson
OCCUPATION: Former CEO of The Limited.
AGE: 65.
FAMILY: Husband, Jim Gibson, and two daughters, Kelly Winbigler and Elizabeth Allen. Four grandchildren.
HOMETOWN: Originally from Elkview, W.Va. Currently splits time in different cities. Has a home near Ritter Park in Huntington, in Columbus and also is based out of Florida.
EDUCATION: Graduated from Point Pleasant High School. Attended Marshall University and studied marketing.
RETAIL BACKGROUND: First retail job was in Fisher's Department Store in Point Pleasant. Smart shop in Huntington 1965-71; The Limited (1971-1991). Started as a trainee and then became assistant buyer. In 1977 became divisional merchandise manager, then became vice president in 1979. In 1982 became executive vice president general merchandise manager, before becoming CEO in 1985.
BUSINESS LEADERSHIP POSITIONS HELD (ACCORDING TO FORBES.COM): President and chief executive officer of the Limited Stores Division of The Limited, Inc., a retail apparel specialty chain (1985 to 1991); president of Outlook Consulting Int., Inc. (1991 through 1995, resuming the position in January 1999. It continues today.); chairwoman of the Board of Petrie Retail, Inc. (December 1994 to July 1996); partner of Retail Options, Inc., a New York based retail consulting firm (1993 to fall 1999).
OTHER INVOLVEMENT: Has sat on the board of several organizations. In Huntington, she is a current member of the Marshall University Board of Governors. She also sits on the Board of Directors for Chico's, a women's retailer based in Florida that recently opened a location at Pullman Square in downtown Huntington. She's also on the Coast Guard Foundation Board of Directors.
7-day Archive
