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Chico's appoints David Dyer as President, CEO

09
Jan '09
Chico's FAS Inc announced that David F. Dyer, who formerly served as President and Chief Executive Officer of both Tommy Hilfiger and Land's End, has been appointed President and Chief Executive Officer of Chico's FAS, Inc. Mr. Dyer, who has served on the Company's Board of Directors since 2007, will remain a member of the Board.

In his new roles, Mr. Dyer succeeds Scott A. Edmonds, who informed the Board on January 7 that he is retiring and submitted his resignation as an officer and director of the Company. Ross E. Roeder, who is currently the Company's Lead Director, has been named Non-Executive Chairman of the Board.

"Since becoming President in 2001, Scott has been instrumental in transforming Chico's from a single concept retailer with 250 stores to an enterprise with three compelling brand concepts and 1,080 stores in 49 states," said Mr. Roeder. "Under his leadership, Chico's has become one of the premier women's retailers in the country."

"Even in this difficult environment, we are well positioned to weather one of the worst retailing downturns in history, with no debt and significant cash resources. Having overseen the growth of the Company, established its strong financial position, and completed its operational transition from a single brand to a multi-brand, multi-channel retailer, Mr. Edmonds feels it is now time to hand the Company over to new leadership -- and the Board agrees with this decision."

"It has been my great privilege to be a part of this exceptional company for the past 15 years," said Mr. Edmonds. "While I will miss working with the outstanding group of talented and dedicated people we have, I know that Chico's will be in excellent hands with Dave Dyer. Dave is a first-class retailer and has led two of the most respected apparel companies in the world. He has been a valuable member of our Board of Directors and I am committed to helping in any way I can to ensure a smooth transition."

"We are fortunate that David Dyer, one of the most respected and successful leaders in retailing, has agreed to assume the positions of President and Chief Executive Officer. His expertise in marketing and merchandising will help position Chico's to prosper and grow in the future," added Mr. Roeder.

Mr. Dyer, 59, has had a distinguished 35-year career in retail. He served as President, Chief Executive Officer and director of Tommy Hilfiger, Inc. from August, 2003 until its sale in May, 2006. Prior to that, he served as President and Chief Executive Officer of Lands' End from November 1998 until its June 2002 sale to Sears Roebuck and Company. Following the sale, he joined Sears as Executive Vice President and a member of its Executive Committee, while retaining his responsibilities at Lands' End. Mr. Dyer has also served as acting President of J. Crew and President and Chief Operating Officer of Home Shopping Network.

Mr. Dyer began his career as an Executive Trainee atBurdines department stores in Miami, Florida where, over the next 17 years, he rose through the ranks to become Senior Vice President of Merchandising and Marketing. In addition to the Chico's Board, he was previously a director of Tommy Hilfiger, ADVO, Inc., Land's End and Home Shopping Network. He is a 1971 graduate of Vanderbilt University and was named a Distinguished Alumnus of the Vanderbilt School of Engineering in 2005.


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