francesca's® Announces Appointment of Steven P. Lawrence as President and Chief Executive Officer
September 20 2016 - 4:45PM
Francesca's Holdings Corporation (Nasdaq:FRAN) (the “Company”)
today announced the appointment of Steven P. Lawrence as President
and Chief Executive Officer. Mr. Lawrence was also appointed to the
Company’s Board of Directors. He will assume his roles with the
Company in October 2016. Upon Mr. Lawrence’s official assumption of
his duties, Richard Kunes, who has been serving as the Company’s
Interim Chairman of the Board, President and Chief Executive
Officer since May 2016, will become the Company’s Chairman of the
Board.
Mr. Lawrence currently serves as the Chief
Merchandising Officer for Stage Stores, Inc. Prior to joining Stage
Stores in May 2012, Mr. Lawrence worked at J.C. Penney Company from
September 2000 to March 2012.
“After a thorough selection process, francesca’s
is excited to announce Steve’s appointment as our President and
Chief Executive Officer”, said Mr. Kunes. “Steve is a world-class
retail executive and brings a wealth of knowledge gained over 26
years of retail experience. Not only is Steve a talented merchant,
he is a strategic thinker and a thought leader who knows how to
lead teams to successfully execute their strategic plans and to
drive growth. We are confident Steve is the right person to
capitalize on francesca's solid growth platform and continue to
enhance francesca's position as a specialty retailer.”
Mr. Lawrence said, "francesca's unique retailing
strategy and deep customer loyalty makes it an outstanding brand
with tremendous growth potential. I look forward to working with
the strong leadership team and employees at francesca's to build
upon the success and growth achieved so far. I am honored and
humbled by the confidence placed in me by the Board to lead this
amazing company."
Richard Emmett, Lead Director stated, “We were
fortunate to have had Rick’s leadership as Interim President and
Chief Executive Officer. Rick’s many years of retail experience
both as an executive and a Board member proved invaluable as he led
us through this CEO transition. On behalf of the Board and
management, I would like to extend our gratitude to Rick for
stepping in over the past five months. We look forward to
continuing to work with Rick as our Chairman of the Board.”
Forward-Looking Statements
Certain statements in this release are
“forward-looking statements” made pursuant to the safe-harbor
provisions of the Private Securities Litigation Reform Act of 1995,
as amended. Such forward-looking statements reflect our current
expectations or beliefs concerning future events and are subject to
various risks and uncertainties that may cause actual results to
differ materially from those that we expected. These risks and
uncertainties include, but are not limited to, our ability to
integrate a new President and Chief Executive Officer and our
ability to successfully implement our strategic plan and support
our continued growth. For additional information regarding these
and other risks and uncertainties that could cause actual results
to differ materially from those contained in our forward-looking
statements, please refer to “Risk Factors” in our Annual Report on
Form 10-K for the year ended January 30, 2016 filed with the
Securities and Exchange Commission (“SEC”) on March 25, 2016 and
our Quarterly Report on Form 10-Q for the quarter ended April 30,
2016 filed with the SEC on June 9, 2016, as well as any risk
factors contained in subsequent quarterly and annual reports we
file with the SEC. We undertake no obligation to publicly update or
revise any forward-looking statement.
About Francesca's Holdings Corporation
francesca's® is a growing specialty retailer
which operates a nationwide-chain of boutiques providing customers
a unique, fun and personalized shopping experience. The merchandise
assortment is a diverse and balanced mix of apparel, jewelry,
accessories and gifts. Today francesca's® operates 663 boutiques in
48 states and the District of Columbia and also serves
its customers through francescas.com. For additional
information on francesca's®, please
visit www.francescas.com.
CONTACT:
ICR, Inc.
Jean Fontana
646-277-1214
Company
Kelly Dilts
832-494-2236
Kate Venturina
832-494-2233
IR@francescas.com
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