Before the COVID-19 outbreak, Chico's experienced one of the fastest returns in fashion retail, with a 9.4 percent increase in sales from the first quarter of the fiscal year to the fourth quarter of 2019. In order to sustain this success level, name changes were put into process by the management. These three new project leader appointments were described as a result of a planned follow-up process designed to strengthen and maintain the stability and continuity of the business and to further support the future vision of the company.
Molly Langenstein New CEO
Molly Langenstein, known as a 30-year retail fashion veteran with proven success in stimulating sales and profitability, has become the company's new CEO. Since August 2019, Langenstein has been serving as president of Chico’s and White House Black Market, the company's two biggest brands.
Bonnie Brooks Became the Top Executive Board Member
The company also announced that the current CEO and President Bonnie Brooks, who took over the management role in the company's recovery process in April 2019, will now become the Top Executive of the Board of Directors and will continue to oversee the company's strategic goals.
Independent Executive Director William Bill Simon
William Bill Simon, Board Member and Former President and CEO of Walmart in USA and Senior Advisor to KKR (Kohlberg Kravis Roberts) Private Equity Firm, will take on the role of Independent Chief Director.
David Walker, who has served as the chairman of the board for the past five years, will continue to serve as a board member. Langenstein will also serve as a board member. It is stated officially that all appointments will be effective as of June 24, 2020.
Bonnie Brooks talked about the new appointment, “Molly joined the company in August to reposition and rebuild our two major clothing brands. It has proven him to be an extraordinary leader, especially in the areas of product, digitalization and marketing, which rapidly seizes opportunities to improve product diversity, increase sales and recruit top talent.”
