Ross Stores Announces New Senior Management Structure
Barbara Rentler, 52, formerly Executive Vice President, Merchandising of Ross Dress for Less, has been promoted to President and Chief Merchandising Officer. In her new role, she will continue to manage all apparel and apparel-related merchandising at Ross, as well as take on responsibility for the Ross home businesses. Michael O'Sullivan, 45, formerly Executive Vice President and Chief Administrative Officer, becomes President and Chief Operating Officer. Mr. O'Sullivan will add store operations to his responsibilities which currently include supply chain, information technology, strategy, finance, legal and human resources. James Fassio, 54, previously Executive Vice President, Property Development, Construction and Store Design, has been named President and Chief Development Officer. Mr. Fassio will continue to oversee the Company's entire real estate strategy, including new store development, construction and store design for both Ross Dress for Lessand dd's DISCOUNTS.
Ms. Rentler and Messrs. O'Sullivan and Fassio, along with
The following executive promotions also are effective immediately:
Lisa Panattoni, 47, formerly Executive Vice President, Merchandising for the Ross Dress for Lesshome businesses, has been promoted to Group Executive Vice President and is adding men's and children's to her current responsibilities. Bernard Brautigan, 44, has been promoted from Senior Vice President to Executive Vice President, Merchandising for misses better sportswear as well as shoes, accessories, jewelry, lingerie and ladies hosiery. Jennifer Vecchio, 44, has been promoted from Senior Vice President to Executive Vice President, Merchandising for East Coastmen's and children's.
Mr. Balmuth continued, "
Mr. Balmuth continued, "Both Bernie Brautigan and
Mr. Brautigan and Ms. Vecchio joined Ross in 2003 and 1997, respectively. Both came to the Company after numerous years of merchandising experience at Macy's East. They began their careers at Ross as Vice Presidents and Divisional Merchandise Managers and have held increasingly responsible merchandising management roles over that time.
The Company is also pleased to announce the promotions of the following individuals to Senior Vice President:
Angela Culhane, 51, previously Group Vice President and Divisional Merchandise Manager has been promoted to Senior Vice President and General Merchandise Manager of housewares, cosmetics and fragrances. Susanne DeMarco, 40, has been promoted from Group Vice President and Divisional Merchandise Manager to Senior Vice President and General Merchandise Manager of shoes. Joyce Pearson, 63, has been promoted from Group Vice President and Divisional Merchandise Manager to Senior Vice President and General Merchandise Manager of dresses. Gregg McGillis, 53, formerly Group Vice President has been promoted to Senior Vice President of Property Development.
In conclusion, Mr. Balmuth said, "Our actions today recognize these key executives' prior accomplishments and our ongoing belief in their excellent business acumen and management capabilities. I am confident that this new leadership structure will position the Company for future growth and profitability while enhancing shareholder value over the long term."
Forward-Looking Statements: This press release contains forward-looking statements that are subject to risks and uncertainties which could cause our actual results to differ materially from management's current expectations. The words "plan," "expect," "target," "anticipate," "estimate," "believe," "forecast," "projected," "guidance," "looking ahead" and similar expressions identify forward-looking statements. Risk factors for Ross Dress for Less® ("Ross") and dd's DISCOUNTS® include without limitation, competitive pressures in the apparel or home-related merchandise industry; changes in the level of consumer spending on or preferences for apparel or home-related merchandise, including the potential impact from uncertainty in financial and credit markets and the severity and duration of the current recession; changes in geopolitical and general economic conditions; unseasonable weather trends; disruptions in supply chain; lower than planned gross margin, including higher than planned markdowns and higher than expected inventory shortage; greater than planned operating costs; our ability to continue to purchase attractive brand-name merchandise at desirable discounts; our ability to attract and retain personnel with the retail talent necessary to execute our strategies; our ability to effectively operate our various supply chain, core merchandising and other information systems; our ability to improve our merchandising capabilities through the development and implementation of new processes and systems enhancements; achieving and maintaining targeted levels of productivity and efficiency in our distribution centers; and obtaining acceptable new store locations. Other risk factors are detailed in our
John G. Call,
Senior Vice President,
Chief Financial Officer,
both of Ross Stores, Inc.