ascena retail group Announces Chief Financial Officer Transition
July 25 2019 - 4:05PM
ascena retail group, inc. (Nasdaq: ASNA) (“ascena” or the
“Company”) today announced that Dan Lamadrid, SVP, Finance and
Chief Accounting Officer, has been promoted to Executive Vice
President and Chief Financial Officer, effective August 4, 2019,
replacing Robb Giammatteo, who informed the company that he intends
to leave ascena at the end of August. Mr. Giammatteo, who
will serve as a senior advisor during the month of August, has
worked closely with Mr. Lamadrid over the last two years and will
continue to do so over the next month to ensure a smooth
transition.
Mr. Lamadrid will report directly to Gary Muto, Chief Executive
Officer.
Mr. Muto said, “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.”
Mr. Muto continued, “Robb has been a valued member of ascena for
many years and we wish him the best in his future endeavors.”
Ms. Teffner added: “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.”
Mr. 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, Mr. Lamadrid held finance leadership roles at Hartz
Mountain Corporation and Toys R Us after starting his career in
public accounting.
Mr. Lamadrid received a Magna Cum Laude degree with a BS in
Accounting from St. John’s University and earned an MBA, with
Honors, in Finance from Iona College. He is a CPA and
CMA.
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 (Dressbarn), Plus Fashion
segment (Lane Bryant, Catherines, and Cacique), 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, dressbarn.com, lanebryant.com,
Catherines.com, and shopjustice.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.
CONTACT: |
For
investors: |
For
media: |
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ICR, Inc. |
ascena retail group, inc. |
|
Jean Fontana |
Shawn Buchanan |
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Managing Director |
Corporate Communications |
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(646) 277-1214 |
(212) 541-3418 |
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Jean.Fontana@icrinc.com |
shawn_buchanan@ascenaretail.com |
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|
|
Jennifer Davis |
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Senior Vice President |
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(646) 677-1813 |
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Jennifer.Davis@icrinc.com |
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