URBN Announces Management Changes
October 13 2020 - 4:30PM
Richard A. Hayne, Chief Executive Officer of Urban Outfitters, Inc.
(NASDAQ:URBN), a leading lifestyle products and services company
which operates a portfolio of global consumer brands comprised of
the Anthropologie, BHLDN, Free People, Free People Movement,
Terrain, Urban Outfitters, Nuuly and Menus & Venues brands,
today announced the following changes to the Company’s management
structure to better support URBN’s future growth and strategic
initiatives.
- Meg Hayne has been promoted to Co-President and will remain
Chief Creative Officer. Meg will continue to manage the creative
functions she currently oversees. In addition, our three large
Brands and Sourcing will now report to Meg.
- Frank Conforti has been promoted to Co-President and Chief
Operating Officer. Frank will assume additional responsibility for
URBN’s Fulfillment & Logistics, Development, Legal, Talent and
Human Resources Departments. Frank will continue to operate as
Chief Financial Officer while the Company begins a search for his
successor.
- Sheila Harrington has been promoted to Chief Executive Officer
of the Free People Group.
- Hillary Super has been promoted to Chief Executive Officer,
Anthropologie Group.
- Azeez Hayne has been promoted to Chief Administrative Officer
and will remain General Counsel. Azeez will assume responsibility
for URBN’s Talent and Human Resources departments.
- Dave Hayne has been promoted to Chief Technology Officer and
will remain the President of Nuuly. Dave will assume the additional
responsibilities for URBN’s IT department.
- Calvin Hollinger, Chief Operating Officer URBN, will be leaving
the Company at the end of the month to pursue other
opportunities.
“We thank Calvin for his 16 years of dedicated
service to the Company. During his tenure, he made significant
contributions to our success and directed numerous improvements in
the areas and functions that reported to him. Calvin is leaving
behind a strong team of very capable leaders,” said Richard A.
Hayne, Chief Executive Officer URBN. “I congratulate our six
executives on their well-deserved promotions. I look forward to
working closely with our entire executive team to support URBN’s
future growth and strategic initiatives,” finished Mr. Hayne.
Urban Outfitters, Inc., offers
lifestyle-oriented general merchandise and consumer products and
services through a portfolio of global consumer brands comprised of
248 Urban Outfitters stores in the United
States, Canada and Europe and websites;
233 Anthropologie Group stores in the United
States, Canada and Europe, catalogs and websites;
143 Free People stores in the United
States, Canada and Europe, catalogs and websites, 11
Menus & Venues restaurants, 2 Urban
Outfitters franchisee-owned stores and 1 Anthropologie
Group franchisee-owned store, as of July 31, 2020. Free
People, Anthropologie Group and Urban
Outfitters wholesale sell their products through approximately
2,300 department and specialty stores worldwide, digital businesses
and the Company’s Retail segment.
This news release is being made pursuant
to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Certain matters contained
in this release may contain forward-looking statements. When used
in this release, the words “project,” “believe,” “plan,” “will,”
“anticipate,” “expect” and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Any
one, or all, of the following factors could cause actual financial
results to differ materially from those financial results mentioned
in the forward-looking statements: the impacts of the coronavirus
(COVID-19) pandemic, the difficulty in predicting and responding to
shifts in fashion trends, changes in the level of competitive
pricing and promotional activity and other industry factors,
overall economic and market conditions and worldwide political
events and the resultant impact on consumer spending
patterns, the effects of the implementation of the United
Kingdom's withdrawal from membership in the European
Union (commonly referred to as “Brexit”), including currency
fluctuations, economic conditions and legal or regulatory changes,
any effects of war, terrorism and civil unrest, natural disasters,
severe or unseasonable weather conditions or public health crises
such as the coronavirus (COVID-19) pandemic, increases in labor
costs, increases in raw material costs, availability of suitable
retail space for expansion, timing of store openings, risks
associated with international expansion, seasonal fluctuations in
gross sales, the departure of one or more key senior executives,
import risks, changes to U.S. and foreign trade policies,
including the enactment of tariffs, border adjustment taxes or
increases in duties or quotas, the closing or disruption of, or any
damage to, any of our distribution centers, our ability to protect
our intellectual property rights, risks associated with digital
sales, our ability to maintain and expand our digital sales
channels, response to new store concepts, our ability to integrate
acquisitions, any material disruptions or security breaches with
respect to our technology systems, failure of our manufacturers and
third-party vendors to comply with our social compliance program,
changes in our effective income tax rate (including the
uncertainties associated with the U.S. Tax Cuts and Jobs
Act), changes in accounting standards and subjective assumptions,
regulatory changes and legal matters and other
risks identified in our filings with the Securities and
Exchange Commission. The Company disclaims any intent or obligation
to update forward-looking statements even if experience or future
changes make it clear that actual results may differ materially
from any projected results expressed or implied therein.
Contact: |
Oona
McCullough Director of Investor Relations (215) 454-4806 |
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