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Senior management changes at Cache
25 Jan '08
2 min read
Cache Inc announced that Brian Woolf previously Chairman and Chief Executive Officer has resigned from the Company for personal reasons, effective immediately. Thomas Reinckens, who is currently the Company's President, is being promoted to the title of Chairman, Chief Executive Officer and President.
Adrienne Kantor, who joined Cache in July 2007, will continue as Executive Vice President - Chief Merchandising Officer, responsible for all merchandising and design within the organization.
Separately, the Company announced that its Board of Directors has approved a new share repurchase program. This new program increases the Company's current stock repurchase authorization to 3.5 million shares from 3.0 million shares previously.
The Company plans to execute this program through the open market or in privately negotiated transactions, in accordance with SEC requirements. As of September 29, 2007, the Company had 16,309,358 shares of common stock outstanding.
Thomas Reinckens, Cache's Chairman and Chief Executive Officer stated: “Brian has made significant positive contributions to our Company, transforming our brand to a destination for lifestyle apparel and spearheading our vertical integration. I am very fortunate to have worked with a highly talented and respected individual and wish Brian well in the future.
I am equally pleased to take on the Chairman and CEO titles and am ready, passionate and excited to lead Cache in itsnext phase of growth. Currently, we are experiencing better sales results in January versus the challenging holiday sales period and I continue to believe we have identified a unique niche in women's apparel retailing providing us with tremendous opportunity for sales and profit gains in the near and long term.”
Mr. Brian Woolf, Cache's Chairman and Chief Executive Officer commented: “I am leaving Cache in great hands with a talented and capable team.”
Adrienne Kantor, who joined Cache in July 2007, will continue as Executive Vice President - Chief Merchandising Officer, responsible for all merchandising and design within the organization.
Separately, the Company announced that its Board of Directors has approved a new share repurchase program. This new program increases the Company's current stock repurchase authorization to 3.5 million shares from 3.0 million shares previously.
The Company plans to execute this program through the open market or in privately negotiated transactions, in accordance with SEC requirements. As of September 29, 2007, the Company had 16,309,358 shares of common stock outstanding.
Thomas Reinckens, Cache's Chairman and Chief Executive Officer stated: “Brian has made significant positive contributions to our Company, transforming our brand to a destination for lifestyle apparel and spearheading our vertical integration. I am very fortunate to have worked with a highly talented and respected individual and wish Brian well in the future.
I am equally pleased to take on the Chairman and CEO titles and am ready, passionate and excited to lead Cache in itsnext phase of growth. Currently, we are experiencing better sales results in January versus the challenging holiday sales period and I continue to believe we have identified a unique niche in women's apparel retailing providing us with tremendous opportunity for sales and profit gains in the near and long term.”
Mr. Brian Woolf, Cache's Chairman and Chief Executive Officer commented: “I am leaving Cache in great hands with a talented and capable team.”
Cache Inc
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