The big retail C-suite moves to know in May
Rent the Runway, Ahold Delhaize, and Banana Republic announced CEO changes this month.
• less than 3 min read
The customer’s always journeying: Retail, like life, is about the journey—the customer journey, that is. In our State of Stores report, we dive into how retailers need to use every tool in their kit (including the POS) to meet the ever-expanding expectations of today’s shoppers. Read it here.
Lululemon’s CEO succession drama ended in April and this month, the feud with founder Chip Wilson over boardroom picks did too. Now, we can move on to less dramatic, but still notable, retail executive news to know from May:
- Rent the Runway Co-Founder Jennifer Hyman stepped down as CEO, president, and board member of the fashion rental company. Board member Teri Bariquiet will fill in as interim president and CEO.
- Ahold Delhaize President and CEO Frans Muller will retire from the grocery giant next year. The company nominated former Carrefour CEO Thierry Garnier to be his successor.
- PVH Americas CEO Donald Kohler is joining Gap as global brand president and CEO of Banana Republic, returning to the retailer after working a decade there earlier in his career. Adelyn Cheong, president of PVH China, was tapped to take over after his exit.
- Gap-owned Old Navy hired former Target CMO and JCPenney President Michael Francis as its chief customer officer.
- Following Lidl US CEO Joel Rampoldt’s departure in January, the discount grocer named its COO Alan Barry to the position. Company execs Maciej Tylkowski and Jassine Ouali were also named COO and chief customer officer, respectively, at Lidl US.
- Reebok and Champion owner Authentic Brands Group announced its president, Matt Maddox, will take over as CEO, with current CEO Jamie Salter moving to executive chair. Salter told CNBC the company plans to go public within the next year.
- After a number of executive shifts under new CEO John Furner, two Walmart execs—Sam’s Club COO Tom Ward and Walmart’s EVP of US store operations Cedric Clark—departed the retailer. Their successors have not yet been named.
- UK pharmacy chain Boots named Alex Baldock, CEO of UK electronics retailer Currys, as its next CEO as it prepares for a potential IPO.
- MCO Beauty parent DBG Beauty brought on Stila Cosmetics CEO Michelle Kluz as its new chief exec. Meanwhile, Stila tapped former Estée Lauder exec Daniel Annese to fill her vacated role.
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