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Christopher & Banks Corporation promotes Matthew Dillon to CEO

14
Jun '06
Women's apparel specialty retailer Christopher & Banks Corporation has announced that it had entered into an employment agreement with Matthew Dillon, President & Chief Merchandising Officer, under which he will be named President & CEO effective March 1st 2007.

Dillon will also be appointed to the company's Board of Directors concurrently with his promotion to CEO. As previously announced, Joe Pennington will continue with the company after March 1st 2007 in a reduced role focusing on special projects.

Dillon joined the company in May 2005 as Executive VP and CMO. He was named President in December 2005. Before joining the company, he was VP and Director of Merchandising for Coldwater Creek where he had been employed for four years. Prior to that, he held executive or senior merchandising positions with the Mark Group, Bear Creek Corporation and Spiegel.

Joe Pennington, Chief Executive Officer, said, "I am pleased to announce that Matt will become CEO of Christopher & Banks in March of next year. His leadership as Chief Merchandising Officer has been the key to the reinvigoration of our brands. Matt is a seasoned executive with broad experience in specialty retail and has demonstrated the leadership qualities and broader skill sets necessary to be a truly outstanding CEO. I look forward to working with him to accomplish a seamless transition."

Matt Dillon, President and CMO, said, "This is an exciting time for Christopher & Banks as the Company continues to strengthen its brands and expand its store base. I am excited about the future and look forward to the opportunity to take on increased leadership responsibilities and to work with the rest of our outstanding team to continue to build value for our shareholders."

Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. It operates 741 stores in 45 states under the names: Christopher & Banks, C.J. Banks and Acorn. It currently has 514 Christopher & Banks stores, 199 C.J. Banks stores and 28 Acorn stores.

Christopher & Banks Corporation


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