Fort Myers, Fla. — Chico’s FAS, Inc.’s president and CEO, David F. Dyer, intends to retire in spring 2016. He will continue in his present role until a successor is appointed. After a successor is named, Dyer will remain on the board in the newly-created role of vice chairman through his current term, which ends at the company’s annual meeting of shareholders in June 2016.
The board of directors has established a succession planning committee to identify Dyer’s successor and has retained Herbert Mines Associates, a leading executive search firm with particular expertise in the retail industry, to assist in the process.
“From the moment he took the reins in early 2009, [Dyer] led significant and positive changes on all fronts: merchandise, marketing and technology, while also accelerating our push into omnichannel and laying the foundation for global expansion,” says Ross Roeder, non-executive chairman. “We thank him for his strong commitment to driving results and further enhancing our unique corporate culture, which emphasizes service as a key competitive differentiator.”
Dyer joined the Chico’s FAS board of directors in 2007 and became the company’s president and CEO in January 2009. During his tenure as president and CEO, the company has added over $1 billion in sales, improved profitability from a loss in 2008 to the profitable, financially sound company it is today, and returned over $1 billion to shareholders through dividends and share repurchases. This growth and success reflects Dyer’s focus on operational execution as well as investments he spearheaded in infrastructure, systems, store growth and all phases of digital commerce and marketing to enhance customer service and position the company to compete in a rapidly changing retail environment.
Chico’s FAS, Inc., through its brands — Chico’s, White House | Black Market, Soma Intimates and Boston Proper — is a leading omnichannel specialty retailer of women’s private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing items.
As of May 2, 2015, the company operated 1,552 stores in the U.S. and Canada and sold merchandise through franchise locations in Mexico. For more information, visit www.chicosfas.com.
SOURCE: Chico’s FAS, Inc.