Chico's FAS Inc. said Thursday that Chief Executive David Dyer
will retire next spring after taking the helm of the women's
apparel retailer in 2009.
Mr. Dyer will remain CEO until a successor is appointed and will
then remain on the company's board in a newly created role of vice
chairman until June 2016, the company said.
In 2006, Mr. Dyer retired after serving as CEO of retailer Tommy
Hilfiger Corp. He joined Chico's board the following year and
became its chief executive in early 2009.
Mr. Dyer "led significant and positive changes on all fronts,"
while "laying the foundation for global expansion," said Chairman
Ross Roeder. During Mr. Dyer's tenure, the company added about $1
billion in sales, the company said.
Earlier this year, private-equity firm Sycamore Partners
abandoned its bid to buy the women's retailer after failing to line
up financing for the deal.
The company has also announced plans to cut capital spending,
accelerate stores closures and cut jobs in an effort to shore up
its finances.
Shares in the company, up 5% this year, were inactive during
premarket trading.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
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