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Ascena announces new appointments to BoD
Jun '17
Ascena retail group, Inc., a global leading national specialty retailer and a famous marketer offering apparel, shoes, and accessories for women, has announced new appointments to its Board of Directors. After an extensive search, Marc Lasry and Stacey Rauch have been appointed as members of Ascena’s Board of Directors, effective immediately.

Marc Lasry re-joins the Board, having previously served as a member of the Board from February 2004 until October 2006. Since 1995, Lasry has served as the chairman, chief executive officer, and co-founder of Avenue Capital Group, a global investment firm that focuses on private and public debt, equity, and real estate markets in the US, Europe, and Asia. Lasry is currently a member of the Council on Foreign Relations and has served on the boards of advisors or directors of both for-profit and not-for-profit public and private companies.

Stacey Rauch joins the Board with extensive experience in retail, strategy, marketing, merchandising, global expansion, and multi-channel management. Rauch is a director emeritus of McKinsey and Company where she was a leader in McKinsey’s retail and consumer goods practices, served as the head of the North American retail and apparel practice, and acted as the global retail practice convener. Rauch led engagements for a wide range of retailers, apparel wholesalers, and consumer goods manufacturers in the US and internationally. She also has noteworthy board experience, including her former membership on the ANN INC. board and her current roles as non-executive chairman of the board of directors of Fiesta Restaurant Group, Inc. and non-executive director of Land Securities, PLC, the UK’s largest commercial property company, where she sits on its audit and nomination committees.

Kate Buggeln who leads the board’s leadership and corporate governance committee said, “Lasry brings a macro perspective of the business environment and tremendous depth and experience with capital allocation strategies. Marc’s insight, enhanced by his prior experience with the company, will undoubtedly add significant value.”

Buggeln said, “We selected Rauch to serve as a director based on her extensive experience across business, strategy, marketing, merchandising, and operations in the retail, consumer and apparel sectors. Stacey brings an invaluable strategic perspective of the changing consumer environment that we will leverage as Ascena continues its evolution.” (GK)

Fibre2Fashion News Desk – India

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