ascena retail group Announces Appointment to Board of Directors
May 17 2018 - 4:05PM
Business Wire
ascena retail group, inc. (NASDAQ:ASNA), today announced
that John L. Welborn, Jr. has been appointed as a member of
ascena’s Board of Directors.
JOHN L. WELBORN, Jr. joins the Board with extensive
experience in capital markets and investing. Mr. Welborn currently
serves as a Managing Director for Stadium Capital Management, LLC,
an investment advisory firm whose funds are significant long-term
ascena stockholders. Prior to joining Stadium in 2000, Mr. Welborn
was a Financial Analyst at The Beacon Group, LLC, an investment and
advisory firm that is now part of J.P. Morgan Chase & Co. At
Beacon, Mr. Welborn was a member of the Mergers & Acquisitions
Group, focusing on financial services and consumer product
companies and the Liquid Investments Committee. From 2012-2014, Mr.
Welborn served as a director and member of the governance committee
for Intermountain Community Bancorp and a director of Panhandle
State Bank, Inc.
“We seek open dialogue and input from our stockholders and
believe that John’s long-term stockholder perspective as well as
his extensive capital markets and investment experience will
benefit the company and its stockholders,” said Kate Buggeln, who
chairs the Board’s Leadership and Corporate Governance
Committee.
“John possesses the relevant expertise that complements the
talents of our current directors. We look forward to benefitting
from his added perspective to ascena’s Board and believe that he
will make a substantial contribution to the company while serving
the best interests of all of its stockholders,” said David Jaffe,
Chairman and Chief Executive Officer of ascena retail group.
“I am excited to join ascena’s Board of Directors. Stadium
Capital is once again a significant stockholder, and we have had a
strong and constructive working relationship with ascena for almost
twenty years.” said Mr. Welborn. “Now as a member of the Board, I
look forward to working with the full Board to help ascena drive
long-term stockholder value.”
About ascena retail group,
inc.
ascena retail group, inc. (NASDAQ:ASNA) is a leading national
specialty retailer offering apparel, shoes, and accessories for
women under the Premium Fashion segment (Ann Taylor, LOFT, and Lou
& Grey), Value Fashion segment (maurices and dressbarn), Plus
Fashion segment (Lane Bryant and Catherines), and for tween girls
under the Kids Fashion segment (Justice). ascena retail group, inc.
operates ecommerce websites and approximately 4,700 stores
throughout the United States, Canada and Puerto Rico.
For more information about ascena retail group, inc. visit:
ascenaretail.com, AnnTaylor.com, LOFT.com, louandgrey.com,
maurices.com, dressbarn.com, lanebryant.com, cacique.com,
Catherines.com, and shopjustice.com.
Note Regarding Forward-Looking
Statements
Certain statements made in this release may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially. Forward-looking
statements are statements related to future, not past, events, and
often contain words such as “expect,” "anticipate," "intend,"
"plan," "believe," "seek," "see," "will," "would," “estimate,”
“forecast,” "target," “preliminary,” or “range.” The Company does
not undertake to publicly update or review its forward-looking
statements even if experience or future changes make it clear that
our projected results expressed or implied will not be
achieved.
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version on businesswire.com: https://www.businesswire.com/news/home/20180517006071/en/
For Investors:ICR, Inc.James Palczynski,
203-682-8229PartnerorFor Media:ascena retail group, inc.Sue
Ross, 218-491-2110EVP, ascena Corporate
Affairssue.ross@ascenaretail.com
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