Burlington Stores, Inc. Announces Chief Financial Officer Transition
September 16 2019 - 6:45AM
Burlington Stores, Inc. (NYSE: BURL), a nationally recognized
off-price retailer of high-quality, branded apparel at everyday low
prices, today announced that Marc Katz has resigned as the
Company’s Chief Financial Officer/Principal, effective immediately,
to pursue other professional opportunities. John Crimmins,
Executive Vice President, Finance and Chief Accounting Officer has
been appointed interim Chief Financial Officer.
“On behalf of the entire Board and management team, I would like
to thank Marc for his dedication and valuable contributions during
his 11-year career at Burlington. Marc has played a significant
role in improving our financial and operational performance and
strengthening our position as a leader in the off-price retail
business. We wish him well in his future endeavors,” said Thomas
Kingsbury, Executive Chairman.
“John has been an active and valuable contributor to the
Burlington management team since 2011 and has been leading our
finance function for the past several years. We are fortunate
to have a proven leader who possesses the important business acumen
and experience to ensure a seamless transition,” added Mr.
Kingsbury.
Mr. Katz said, “It has been an honor and a privilege to be part
of the Burlington story for the last 11 years and help lead the
Company through a period of great transformation, growth and
success. I am extremely proud of what we have accomplished
together. I wish the entire Burlington team all the best in the
years to come.”
Mr. Kingsbury concluded, “Today is an exciting day for
Burlington, as Michael O’Sullivan begins as our Chief Executive
Officer. Our future is bright, and I look forward to working
closely with the Board, Michael, Jennifer Vecchio, our President
and Chief Merchandising Officer, and the rest of our leadership
team to ensure a successful leadership transition.”
About John Crimmins Mr. Crimmins has been
with the Company since 2011, most recently serving as Executive
Vice President, Finance and Chief Accounting Officer. Before
joining Burlington Stores, Mr. Crimmins held various roles at The
Timberland Company including Chief Financial Officer, and Corporate
Controller and Chief Accounting Officer from 2002 to 2009.
About Burlington Stores, Inc.Burlington Stores,
Inc., headquartered in New Jersey, is a nationally recognized
off-price retailer with Fiscal 2018 net sales of $6.6 billion.
The Company is a Fortune 500 company and its common stock is traded
on the New York Stock Exchange under the ticker symbol
“BURL.” The Company operated 691 stores as of the end of the second
quarter of Fiscal 2019, inclusive of an internet store, in 45
states and Puerto Rico, principally under the
name Burlington Stores. The Company’s stores offer an
extensive selection of in-season, fashion-focused merchandise at up
to 60% off other retailers' prices, including women’s ready-to-wear
apparel, menswear, youth apparel, baby, beauty, footwear,
accessories, home and coats.
For more information about the Company,
visit www.burlingtonstores.com.
Safe Harbor for Forward-Looking and Cautionary
StatementsThis release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended (Exchange Act). All statements other than statements of
historical fact included in this release are forward-looking
statements. You can identify forward-looking statements by the fact
that they do not relate strictly to historical or current facts. We
do not undertake to publicly update or revise our forward-looking
statements even if experience or future changes make it clear that
any projected results expressed or implied in such statements will
not be realized. If we do update one or more forward-looking
statements, no inference should be made that we will make
additional updates with respect to those or other forward-looking
statements. All forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from expectations, including those described from time to time in
our filings with the Securities and Exchange Commission. For each
of these factors, the Company claims the protection of the safe
harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, as amended.
Investor Relations Contact:David J.
Glick855-973-8445 Info@BurlingtonInvestors.com
Allison MalkinICR, Inc.203-682-8225
Burlington Stores (NYSE:BURL)
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