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RAPAPORT... Stevan Buxbaum has resigned as president of Buxbaum Jewelry Advisors to pursue other opportunities. The company named Scott Rusczyk as managing director and Michael Lebowitz was promoted to executive vice president of the firm. “We thank Stevan for his efforts in launching our Buxbaum Jewelry Advisors affiliate in 2008 and for his many years of service prior to that as a senior executive and widely quoted retail industry expert at Buxbaum Group,” said Paul M. Buxbaum, the chief executive of the Buxbaum Group. “We wish him the best in his future endeavors.” Rusczyk will provide managerial oversight of all Buxbaum Jewelry Advisors' operations, bringing over 23 years of corporate insolvency and restructuring experience to this position. Since joining Buxbaum Group in 2006, he has been responsible for oversight of all firm activities, including its liquidation, advisory and turnaround engagements, as well as its investments, mergers and acquisitions. Lebowitz, who joined the firm two years ago, will be responsible for directing the firm’s projects, including store closings, promotional sales for ongoing businesses, inventory augmentation programs, wholesale auction sales and manage all relationships with Buxbaum Jewelry Advisors' vendors and customers. Lebowitz began his career in 1970 with Lebowitz & Co., but after 25 years in his family’s business, Lebowitz served as a close-out buyer and asset appraiser for Gordon Brothers. He returned to retail in 1997, joining Shreve Crump & Low as fine jewelry merchandise manager, in 2003 he served as a consultant to manufacturer M. Fabrikant & Sons, and then he became vice president of merchandise for Royal Jewelers. “With four decades of experience that’s touched upon virtually all areas of jewelry retailing, wholesaling, design and consulting, Michael brings a unique, diverse skill-set to his new leadership position,” said Rusczyk. “Along with that, he brings long-term relationships within the vendor and retail communities. We look forward to leveraging the trust Michael built over the years as we expand the wholesale auction and inventory augmentation programs, and other critical services Buxbaum Jewelry Advisors offers to retailers and wholesalers.” Lebowitz said, “Opportunities abound for Buxbaum Jewelry Advisors. Though originally perceived in the industry as a liquidator, we always offered so much more. Understanding the needs of today’s jewelry world, it is clear that we need to amplify the word ‘Advisors’ in our name to resonate with all segments of the industry. To that end, we have complemented the efforts of our appraisal and sales divisions by successfully developing an auction division and refining our inventory augmentation program. The beauty of Buxbaum Jewelry Advisors is that we are small enough to act quickly and think out of the box, but strong enough to execute whatever plan best suits our client. I look forward to leading those efforts in the years ahead.”
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