Ascena promotes Dan Lamadrid to Chief Financial Officer

Ascena Retail Group, Inc. has promoted Dan Lamadrid, currently SVP, finance and chief accounting officer to Executive Vice President and Chief Financial Officer, effective August 4, 2019, replacing Robb Giammatteo, who informed the company that he intends to leave the company at the end of August. The company said, Lamadrid will report directly to Gary Muto, the company’s Chief Executive Officer.

Commenting on the development, Muto said in a statement: “We have a strong successor in Dan, who has played a critical role in our transformation and strategic portfolio review. He is a highly accomplished finance executive and I look forward to his partnership. In addition, we also benefit from the considerable financial and transformation expertise of Carrie Teffner, our Interim Executive Chair.”

The company added that Lamadrid joined Ascena in 2017 as SVP, finance and chief accounting officer, after serving as SVP, chief accounting officer at Vitamin Shoppes and VP/controller at Ralph Lauren. Prior to these roles, he held finance leadership roles at Hartz Mountain Corporation and Toys R Us after starting his career in public accounting.

“Since stepping into this role, I have had a first-hand view of Dan’s financial expertise and thought leadership. Dan will be a critical partner as we execute our transformation plan to return Ascena to profitable and sustainable top-line growth,” added Teffner.