Home / Knowledge / News / Fashion / Charming Shoppes BoD to separate CEO & Chairman duties
Charming Shoppes BoD to separate CEO & Chairman duties
May '08
Charming Shoppes Inc announced that it has made a proposal to settle the proxy contest related to the Company's 2008 Annual Meeting of Shareholders. Crescendo Partners and Myca Partners (the "Committee") have rejected this settlement offer, which included an offer of a seat on the Charming Shoppes' Board to Mr. Michael C. Appel, one of the Committee's director nominees.

Additionally, the Company announced that it intends to appoint to the Board, promptly following the May 8, 2008 Annual Meeting of Shareholders, two experienced retail executives with significant industry experience: Mr. Richard W. Bennet, III, former Vice Chairman of The May Department Stores Company, and Mr. Michael Goldstein, former Chairman and Chief Executive Officer of Toys "R" Us Inc.

Neither of these individuals have any prior relationship with the Company, its Board of Directors, or its executives. Both Messrs. Bennet and Goldstein were evaluated by an independent search firm and recommended to the Board of Charming Shoppes. Detailed biographies of Messrs.

Katherine M. Hudson, lead independent director of Charming Shoppes' Board of Directors said, "We are pleased with the prospect of adding additional qualified, independent directors with proven retail industry experience to our Board, and are delighted to have attracted new Board members with the wealth of knowledge and solid retail experience that Rick and Mike possess.

Rick's leadership and management experience in the retail industry spans more than 30 years and Mike's far-reaching retail and financial executive careers encompass more than 35 years. We are confident that the new perspectives they can provide will be extremely valuable to the Company as we continue to strengthen our business."

Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Urmil Arya

Sushila International, a well established textile organisation established ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

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

Amiben Shroff

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Pranav Mishra

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


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search