ascena retail group Announces Reduction in the Size of the Board
June 26 2019 - 8:30AM
Business Wire
ascena retail group, inc. (Nasdaq: ASNA) (“ascena” or the
“Company”) announced the resignation of two of its board members,
Steven Kirshenbaum and Marc Lasry, effective June 30, 2019. The
Board has approved a reduction in the size of the Board from 12 to
10 directors, effective as of that date.
Carrie Teffner, Interim Executive Chair of ascena retail group,
inc., commented, “The reduction in the size of the board is
consistent with our decision to focus on a portfolio with fewer
brands and to right-size the corporate overhead structure.”
About ascena retail group,
inc.
ascena retail group, inc. (Nasdaq: ASNA) is a national specialty
retailer offering apparel, shoes, and accessories for women under
the Premium Fashion segment (Ann Taylor, LOFT, and Lou & Grey),
Plus Fashion segment (Lane Bryant, Catherines and Cacique), and the
Value Fashion segment (Dressbarn), and for tween girls under the
Kids Fashion segment (Justice). ascena retail group, inc. through
its retail brands operates ecommerce websites and approximately
3,500 stores throughout the United States, Canada, and Puerto
Rico.
For more information about ascena retail group, inc. visit:
ascenaretail.com, AnnTaylor.com, factory.anntaylor.com, LOFT.com,
outlet.loft.com, louandgrey.com, lanebryant.com, Catherines.com,
shopjustice.com, and dressbarn.com.
Forward-Looking
Statements
Certain information in this press release contains statements
that are forward-looking in nature and involve certain significant
risks and uncertainties. Actual results could differ materially
from such forward-looking information. ascena’s Securities and
Exchange Commission (“SEC”) filings identify many such risks and
uncertainties. The forward-looking information in this press
release could be affected by many factors, including, without
limitation, disruptions in operations, supplier relationships and
employee relations given the decision to wind down Dressbarn’s
operations, unanticipated developments that may prevent or delay
wind down activities, changes in financial markets, interest rates,
and foreign currency exchange rates, the ability to achieve
anticipated cost reductions, the ability to achieve a successful
outcome for its portfolio brands and to otherwise achieve its
business strategies, and those additional risks and factors
discussed in reports filed with the SEC by ascena from time to
time, including those discussed under the heading “Risk Factors” in
its most recently filed Annual Report on Form 10-K. We undertake no
duty and have no obligation to update any forward-looking
statements contained herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20190626005392/en/
For investors: ICR, Inc. Jean Fontana Managing Director
(646) 277-1214 Jean.Fontana@icrinc.com
Jennifer Davis Senior Vice President (646) 677-1813
Jennifer.Davis@icrinc.com For media: ascena retail group,
inc. Shawn Buchanan Corporate Communications (212) 541-3418
shawn_buchanan@ascenaretail.com
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