Evine Live, the shopping channel formerly known as ShopHQ, said it has named retail industry veteran Penny Burnett senior vice president and chief marketing officer.
Burnett, who has more than 20 years of merchandising and retail experience, will begin her new job on April 20. Burnett most recently served as vice president of merchandising for Global Brands Group (a member of the Fung Group) for five years where she directly managed the merchandising strategy for new acquisitions and oversaw merchandising for the Kids’ and Young Men’s businesses. Prior to that, she was the vice president of sales and merchandising for Guggenheim Partners on the Lionel brand and held key merchandising roles at both Macy’s and Target Corp. She will be relocating to Evine’s headquarters in Eden Prairie, Minn.
As part of her employment agreement, Burnett will receive an initial base salary of $345,000 annually and will receive restricted stock and options to purchase shares of Evine’s common stock under its 2011 Omnibus Incentive Plan worth about $155,250. She will also be eligible to participate in the company’s employee benefit programs offered to other senior executives. In addition, when Burnett relocates to the Eden Prairie area, she will be eligible to participate in Evine’s executive relocation program.
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