Coldwater Creek Inc announced that its Co-founder, Chairman of the Board, and Chief Executive Officer, Dennis Pence, will retire as Chief Executive Officer of Coldwater Creek effective December 31, 2012.
Commensurate with this announcement, the Coldwater Creek Board of Directors appointed the Company's President and Chief Merchandising Officer, Jill Brown Dean, as President and Chief Executive Officer of Coldwater Creek, effective January 1, 2013.
Mr. Pence commented, "It gives me great satisfaction to announce today the succession of Jill to the role of CEO. Her outstanding leadership, combined with her intimate knowledge of our customer and our brand, gives me great confidence in her ability to continue to lead the turnaround of our company, positioning us for a vibrant and successful second chapter in our history. In the last two and a half years, we have recruited a management team that has the skills and determination needed to execute to success, and Jill's future role in leading this team will ensure the best possible results going forward. I join my fellow Directors in congratulating her on her well-deserved promotion."
Jill Dean, Coldwater Creek's new President and Chief Executive Officer, joined Coldwater Creek in February 2011, as President and Chief Merchandising Officer. Ms. Dean has over 25 years of retail and merchandising experience in the specialty retail sector.
Prior to joining Coldwater Creek, she served as President of the Limited Too division of Tween Brands from October 2006 to April 2008. Prior to Tween Brands, Ms. Dean spent 18 years in various merchandising leadership roles with Limited Brands including serving as the President and Chief Executive Officer of the Lane Bryant division from 1994 to 2001.
"I am honored to be given the opportunity to lead the Coldwater Creek team," said Ms. Dean. "The leadership team we have in place is well qualified to take Coldwater Creek forward, and we are committed to meeting the needs of our shareholders, customers, and employees. I have total confidence in the Company's ability to execute our on-going strategic initiatives, and I look forward to leading the organization to continued success. I also wish to express my appreciation to Dennis and the other Directors for the confidence they have shown in me."
The Company also announced that Jill Dean has been appointed to serve on the Board of Directors, effective January 1, 2013. Dennis Pence will remain as a Director and continue to serve as Chairman of the Board until January 1, 2014.
Coldwater Creek is a leading specialty retailer of women's apparel, gifts, jewelry, and accessories that was founded in 1984 and is headquartered in Sandpoint, Idaho.