Home / Knowledge / News / Apparel/Garments / Mark Hoffman to retire from Charlotte Russe
Mark Hoffman to retire from Charlotte Russe
22
Jul '08
The Board of Directors of Charlotte Russe Inc announced that Board member Leonard Mogil, 62, formerly Group Executive Vice President of Phillips-Van Heusen Corporation, has been named interim Chief Executive Officer of the Company, effective immediately.

He replaces Mark Hoffman, 59, who has retired as Chief Executive Officer and a Director of the Company. The Board of Directors is commencing a search for a permanent CEO, which will begin immediately.

Jennifer Salopek, Non-Executive Chairman of Charlotte Russe, said, “We are delighted and fortunate that Len has agreed to serve as interim CEO while we conduct a search for a new Chief Executive Officer.

Len has extensive retail and operational experience and the Board is confident he will lead the Company effectively while our search is underway.

Charlotte Russe has a strong financial position, an exciting future, and an experienced senior management team that has helped build the Company into one of the country's fastest-growing mall-based specialty retailers for young women in their teens and twenties.

We on the Board, including Len, are committed to enhancing the Company's overall profitability and to increasing shareholder value.”

Salopek continued, “On behalf of the Board, we thank Mark for his contributions as Chief Executive Officer and a Director since 2003. We wish him well in his retirement.”

Said Mark Hoffman, “I am very pleased to have had the opportunity to lead a great company like Charlotte Russe and proud of what we accomplished during my tenure. I am confident in the Company's long-term prospects and that it will enjoy continued success into the future.”

Len Mogil said, “As interim CEO, I look forward to working with the Company's talented management team and associates to position the Company for the growth opportunities that lie ahead.

We are committed to taking the Company to the next level and as part of that effort, will continue our strategy development process that is already underway, including an in-depth assessment of our real estate strategy, merchandising, inventory management, and capital utilization.”

Mr. Mogil has served as a member of Charlotte Russe's Board of Directors since August 2001. From 1989 until his retirement in 2001, he served as a senior executive at Phillips-Van Heusen Corporation, most recently as Group Executive Vice President.

Prior to joining Phillips-Van Heusen, Mr. Mogil held senior executive positions at various retail organizations, including Allied Stores Corporation.

He began his professional career at the accounting firm of Touche Ross & Co. He is also a Certified Public Accountant.

Third Quarter Fiscal 2008 Financial Results:
For the third quarter of fiscal 2008, net sales increased 7.2% to $193.2 million, compared to $180.3 million in the third quarter of fiscal 2007.

Comparable store sales for the third quarter of fiscal 2008 declined 6.5%. Earnings per share (EPS) for the third quarter of fiscal 2008 was $0.31 per diluted share, within the range of the Company's guidance, compared to $0.40 per diluted share in the third quarter of fiscal 2007.


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X