FORT MYERS, Fla., May 21, 2015 /PRNewswire/ -- Chico's FAS,
Inc. (NYSE: CHS) today announced that David
F. Dyer has informed the Board of Directors of his intention
to retire as President and CEO after the conclusion of the 2015
fiscal year, in the spring of 2016. To ensure an orderly
transition, he will continue in his present role until a successor
is appointed. After a successor is named, Mr. Dyer will
remain on the Board in the newly-created role of Vice Chairman
through his current term, which ends at the Company's Annual
Meeting of Shareholders in June
2016.
The Board of Directors has established a Succession Planning
committee to identify Mr. Dyer's successor and has retained Herbert
Mines Associates, a leading executive search firm with particular
expertise in the retail industry, to assist in the process.
Commenting on behalf of the Board of Directors, Ross Roeder, non-executive Chairman said, "David
will retire with the gratitude and best wishes from both the Board
of Directors and all of the Chico's FAS associates. From the
moment he took the reins in early 2009, he led significant and
positive changes on all fronts: merchandise, marketing, and
technology, while also accelerating our push into omni-channel and
laying the foundation for global expansion. We thank him for
his strong commitment to driving results and further enhancing our
unique corporate culture, which emphasizes service as a key
competitive differentiator."
Mr. Dyer said, "It has been an honor to lead Chico's FAS over
the past six and a half years, and I thank the Board and our many
associates for their support and confidence in me. The
Company benefits from a strong foundation, including over nine
million fabulous and loyal customers, four terrific brands, a solid
financial position, and our not-so-secret weapon: our passionate
and dedicated associates. I am very proud of the Chico's FAS
management team and the entire associate family for what we've
accomplished together. I am equally confident that the
Chico's FAS team will continue to successfully execute our strategy
going forward."
Mr. Dyer joined the Chico's FAS Board of Directors in 2007 and
became the Company's President and CEO in January of 2009.
During his tenure as President and CEO, the Company has added over
$1.0 billion in sales, improved
profitability from a loss in 2008 to the profitable, financially
sound company it is today, and returned over $1.0 billion to shareholders through dividends
and share repurchases. This growth and success reflects Mr.
Dyer's focus on operational execution as well as investments he
spearheaded in infrastructure, systems, store growth, and all
phases of digital commerce and marketing to enhance customer
service and position the Company to compete in a rapidly changing
retail environment.
ABOUT CHICO'S FAS, INC.
The Company, through its brands -- Chico's, White House | Black
Market, Soma Intimates, and Boston Proper, is a leading
omni-channel specialty retailer of women's private branded,
sophisticated, casual-to-dressy clothing, intimates, complementary
accessories, and other non-clothing items.
As of May 2, 2015, the Company
operated 1,552 stores in the US and Canada and sold merchandise through franchise
locations in Mexico. The Company's
merchandise is also available at www.chicos.com, www.whbm.com,
www.soma.com, and www.bostonproper.com. For more detailed
information on Chico's FAS, Inc., please go to our corporate
website at www.chicosfas.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
Certain statements contained herein, including without
limitation, statements addressing the beliefs, plans, objectives,
estimates or expectations of the Company or future results or
events constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995, as
amended. Such forward-looking statements involve known or
unknown risks, including, but not limited to, general economic and
business conditions, and conditions in the specialty retail
industry. There can be no assurance that the actual future
results, performance, or achievements expressed or implied by such
forward-looking statements will occur. Users of
forward-looking statements are encouraged to review the Company's
latest annual report on Form 10-K, its filings on Form 10-Q,
management's discussion and analysis in the Company's latest annual
report to stockholders, the Company's filings on Form 8-K, and
other federal securities law filings for a description of other
important factors that may affect the Company's business, results
of operations and financial condition. The Company does not
undertake to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that
projected results expressed or implied in such statements will not
be realized.
Executive Contact:
Jennifer
Powers Adkins
Vice President – Investor Relations
Chico's FAS, Inc.
(239) 346-4199
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SOURCE Chico's FAS, Inc.