Ascena appoints John L. Welborn Jr. as BoD member

21 May '18

2 min read

Courtesy: Ascena Retail

Ascena retail group, Inc., has announced that the company has appointed John L. Welborn, Jr. as a new member to its Board of Directors. The company is a leading specialty retailer of apparel, shoes, and accessories for women under brands like Ann Taylor, Loft, Lou & Grey, and Catherines. John has an extensive experience in capital markets and investing.

Welborn currently serves as a managing director for Stadium Capital Management, LLC, an investment advisory firm whose funds are significant long-term Ascena stockholders.

Kate Buggeln, who chairs the Board’s leadership and corporate governance committee said, “We seek open dialogue and input from our stockholders and believe that John’s long-term stockholder perspective as well as his extensive capital markets and investment experience will benefit the company and its stockholders.”

David Jaffe, chairman and chief executive officer of Ascena retail group said, “John possesses the relevant expertise that complements the talents of our current directors. We look forward to benefitting from his added perspective to Ascena’s Board and believe that he will make a substantial contribution to the company while serving the best interests of all of its stockholders.”

Welborn said, “I am excited to join Ascena’s Board of Directors. Stadium Capital is once again a significant stockholder, and we have had a strong and constructive working relationship with Ascena for almost twenty years. Now as a member of the Board, I look forward to working with the full Board to help Ascena drive long-term stockholder value.” (GK)

Fibre2Fashion News Desk – India

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