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Belk CEO to retire, ending 128 years of family leadership

CHARLOTTE, N.C. (AP) — Tim Belk, CEO of the Charlotte-based retail chain that bears his family's name, says he is retiring in July, bringing an end to 128 years of day-to-day family leadership.

The Charlotte Observer reports ( the 61-year-old Belk will remain on the board of directors. He also said the company's headquarters will remain in Charlotte. Belk employs about 1,400 in its corporate offices in the city.

Tim Belk joined the company in 1981 and has served as CEO since 2004. He is the last remaining member of the Belk family to leave the company.

A statement from the company said Lisa Harper, a Durham native and graduate of UNC-Chapel Hill. will succeed Belk as CEO, effective July 5. Harper had served as CEO of specialty clothing retailer Hot Topic.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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