- Prachi Singh |
Chico’s FAS has announced the promotion of Molly Langenstein to CEO and President of the company, effective June 24, 2020. The company said in a statement that Langenstein is a 30-year retail fashion veteran with a proven track record of success in revitalizing sales and profitability will also become member of the board of directors. Since August 2019, Langenstein served as president of brands Chico’s and White House Black Market.
“Molly joined the company in August to reposition and rebuild our two significant apparel brands. She has proven to be an exceptional leader who quickly seized the immediate opportunities of improving product assortments, driving sales, and recruiting senior talent, particularly in merchandising, digital and marketing,” said Brooks, adding, “The new culture of agility, and the ability to grow sales while reducing expenses, has already served us well during this period, and I am confident we have a path forward for a sustainable future with Molly at the helm of the company.”
Chico’s announces executive changes
The company also announced that current CEO and President Bonnie Brooks, who stepped into her role in April 2019 to lead the company’s turnaround, will now become Executive Chair of the board of directors and continue to oversee the company’s strategic direction. William (Bill) Simon, a member of the board and former President and CEO of Walmart U.S. and senior advisor to KKR private equity firm, will assume the role of Lead Independent Director. The company added that David Walker, who has served as chair of the board for the past five years, will remain a member of the board of directors.
As President of Chico’s and White House Black Market for the past nine months, the company further said, Langenstein led the apparel group, including its brick-and-mortar boutiques and digital platforms, while increasing sales, product quality and elevating taste and style.
“I’m honored to lead this company of customer and product obsessed people and three unique brands, each thriving in their own market white space to provide solutions that women say give them confidence and joy. Starting next week, all three brands will begin to open stores in a phased rollout to immediately deliver sales,” added Langenstein.
Chico’s to reopen stores from May 4
In addition to these appointments, the company today announced a significant restructure of the overall organization, primarily to achieve a leaner, streamlined structure more efficiently aligned to the needs of the business, and to achieve meaningful cost reductions of approximately 30 percent across the company.
Startinghttps://news.fashionunited.com/administrator/index.php?option=com_newsboard&view=new&layout=edit&id=121190 May 4, Chico’s will reopen its boutiques for three additional types of revenue generation: the fulfilment of national online orders through store inventories; reintroducing buy-online-pick up in store (BOPIS) with contactless curbside pickup service; and introducing a new shop-by-appointment service for each of its Chico’s, White House Black Market and Soma brands.
Picture:Chico's media gallery