Bluestem Appoints Peter Michielutti New Chief Financial Officer

EDEN PRAIRIE, Minn.--()--Bluestem Group Inc. ("Bluestem" or the "Company") (OTCMKTS: BGRP) today announced that it has appointed Peter Michielutti, a seasoned retail and financial services executive, as its new Chief Financial Officer, effective July 24, 2017. Mr. Michielutti joins Bluestem from Christopher & Banks where he served as Executive Vice President, Chief Operating Officer & Chief Financial Officer. Mr. Michielutti brings an extensive background in retail and financial services with a deep appreciation for the Company, having served as Executive Vice President & Chief Operating Officer of Fingerhut from 1995-1998.

We’re thrilled to welcome Pete to Bluestem. With his extensive background in retail and consumer finance, as well as his strong leadership abilities, Pete will be a high-impact addition to the company,” said Steve Nave, Bluestem’s President and Chief Executive Officer.

"I’m excited about joining Bluestem at this pivotal time,” Mr. Michielutti said. “I believe my experience helping companies reposition themselves in the context of complex business dynamics while executing against focused operational plans makes this a great fit for us both. Steve and his team have developed a powerful foundation for the next chapter of the Bluestem story, which I’m excited to be a part of.”

Mr. Michielutti succeeds Mark Wagener, who announced his retirement earlier this year and served as Bluestem’s CFO for over 10 years. Prior to joining Christopher & Banks in 2012, Mr. Michielutti served as Executive Vice President & Chief Financial Officer at Whitehall Jewelers and interim CFO as a retail consultant. Prior to Christopher & Banks, Mr. Michielutti was the Chief Financial Officer at Wilson’s Leather from 2001-2006 following his role of Head of Information Services at US Bancorp from 1998-2001. Prior to US Bancorp, Mr. Michielutti served as Chief Operating officer and Chief Financial Officer at Fingerhut Companies after having spent over 16 years at Household International, most-recently as its Executive Director & Chief Financial Officer.

About Bluestem Group

Bluestem Group Inc. is a holding company whose businesses include Bluestem Brands, a national, multi-brand, online retailer of a broad selection of name-brand and private label general merchandise serving the boomer and senior demographic, generally considered age 50 and over, and low- to middle-income consumers over all age demographics through 14 retail brands that include: Appleseed’s, Bedford Fair, Blair, Draper’s & Damon’s, Fingerhut, Gettington, Gold Violin, Haband, LinenSource, Norm Thompson, Old Pueblo Traders, Sahalie, Tog Shop and Wintersilks. Complementing each brand is a large selection of merchandise with payment options that provide customers with the flexibility of paying over time. Bluestem Group is headquartered in Eden Prairie, MN. For additional information visit the Bluestem Group website at www.bluestem.com.

Contacts

Investor Relations:
ICR
Denise Garcia
IR@bluestembrands.com

Contacts

Investor Relations:
ICR
Denise Garcia
IR@bluestembrands.com