Home / Knowledge / News / Apparel/Garments / Express Inc announces changes to Board of Directors
Express Inc announces changes to Board of Directors
04
Nov '11
Express Inc, a specialty retail apparel chain operating over 600 stores, announced changes to its Board of Directors. Michael Weiss, the Company's President and Chief Executive Officer, and a member of the Board, has been appointed Chairman of the Board.

Mr. Weiss succeeds Mr. Stefan Kaluzny, who has resigned his position as Director and Chairman of the Board, a position he's held since July 2007, following Sycamore Partners' acquisition of a controlling interest in Mast Global Fashions, the third party apparel sourcing division of Limited Brands, Inc.

MAST Global Fashions is a sourcing agent of Express, Inc. Mr. Kaluzny is a founding partner of Sycamore Partners. Following this announcement, the Board will include six members, three of whom are independent, and each of whom possesses significant professional experience, particularly in the financial, retail and business services sectors.

"Stefan has been an exceptional Board member for Express, investing his valuable time, talent, passion and wisdom to help make Express successful, and has also been at the forefront of Express' evolution to an independent business and ultimately a public company," said Michael Weiss, president and chief executive officer, Express, Inc. "We thank Stefan for his service to Express and wish him well."

In conjunction with Mr. Weiss' appointment to Chairman, the Board has appointed Mylle H. Mangum, Director, as lead independent director.

"I welcome Mylle's appointment as lead independent director, which recognizes her significant contributions since joining our Board last year. I am confident that, in this role, she will maintain the open lines of communications we have created that best facilitate the effective operation of our Board and executive management team. We move forward with a highly talented Board, each of whom brings to our Company unique professional attributes that we expect to be highly valuable to us as we continue to execute our four pillars of growth," added Weiss.

The Company has commenced a search to add additional independent board members. The Company has until May 12, 2012, one year after the date on which the Company ceased to be a controlled company, to comply with the New York Stock Exchange's listing requirement that a majority of its Board members be independent.

As a result of Mr. Kaluzny's resignation, the Company's Audit Committee consists of two members instead of three members as required by the NYSE listing standards, and the Company's Board of Directors currently consists of two Class I directors, three Class II directors and one Class III director. The Company intends to fill the vacancy on the Audit Committee and appoint additional directors so that the number of directors in each class are roughly equal in accordance with the NYSE listing standards as expeditiously as possible.

Express is a specialty apparel and accessories retailer of women's and men's merchandise, targeting the 20 to 30 year old customer. The Company has over 30 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions.

Express Inc

Must ReadView All

Textiles | On 17th Jan 2017

GST rollout from July 1; states to control small taxpayers

The Centre and states have reached a consensus on the issue of dual...

Textiles | On 17th Jan 2017

Reliance Industries net increases 3.6% in Q3FY17

In the three months ended December 31, 2016, India’s biggest private...

Textiles | On 17th Jan 2017

IMF projects advanced economies to grow at 1.9% in 2017

Advanced economies are projected to grow by 1.9 per cent in 2017 and...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search