Home / Knowledge / News / Retail / Ascena retail group restructures management

Ascena retail group restructures management

May '19
Pic: Ascena Retail Group
Pic: Ascena Retail Group
Ascena retail group has made changes in its senior management structure. David Jaffe has retired from his role as chairman and chief executive officer. He continues on the board of directors. Gary Muto, currently president and chief executive officer of ascena brands, has become the company’s chief executive officer and joins the ascena board of directors.

In addition, Carrie Teffner has been named interim executive chair of the board of directors.

“Leading ascena over the past twenty-seven years has been a privilege. As the company continues its transformation, the board of directors and I mutually agreed that these decisions are right for the business and its shareholders. I am extremely confident in ascena’s future under Gary’s leadership and look forward to continuing to serve ascena as a member of the board,” said Jaffe.

“I am both honoured and excited by this new challenge. David, Carrie, the board and I are working together to ensure the leadership transition is smooth,” said Muto. “And, I am eager to lead and work with our ascena associates, who share my deep commitment to our customers, brands and shareholders. Together we will realise ascena’s potential as the board and management continue to execute on our previously announced strategic initiatives, including a comprehensive assessment of ascena’s portfolio brands, operations, assets and continued cost savings.”

“On behalf of the board, I want to thank David for his many years of service to ascena’s customers, associates and communities. During his watch, the company built solid organisational and functional capabilities as well as a deep executive bench. We are pleased that David will continue to serve ascena as a member of our board. I also want to thank Carrie Teffner for stepping into the role of interim executive chair. Carrie will work closely with Gary to accelerate and amplify execution of the company’s strategic initiatives,” said Kate Buggeln, lead independent director of ascena retail group.

The company also announced the departure of Brian Lynch, president and COO. “I want to thank Brian for his contributions to ascena. Among his accomplishments, Brian led ascena’s Change for Growth transformation plan which is on track to deliver a run rate cost savings of $300 million by July 2019,” said Jaffe.

In connection with her appointment, Teffner has stepped down from her committee positions. Chuck Rubin has been appointed as the chair of the Audit Committee and Linda Yaccarino has been appointed as the chair of the Compensation and Stock Incentive Committee. (SV)

Fibre2Fashion News Desk – India

Must ReadView All

Nigeria's NEPC restores AGOA visa stamp to exporters

Apparel/Garments | On 23rd May 2019

Nigeria's NEPC restores AGOA visa stamp to exporters

The Nigerian Export Promotion Council (NEPC) recently re-introduced...

Pic: India Ratings

Textiles | On 23rd May 2019

US-China trade war may result in dumping by China: Ind-Ra

Rise in US-China trade tensions may result in the latter channelling...

France to lead global fashion sector sustainability drive

Fashion | On 23rd May 2019

France to lead global fashion sector sustainability drive

French President Emmanuel Macron is using Kering SA chief executive...

Interviews View All

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Keith Mcmillan, Bebop Sensors

Keith Mcmillan
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Daniel Kaye, RocketLife

Daniel Kaye

<div>RocketLife, an award-winning developer of breakthrough visual...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

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

Pranav Mishra, Huemn

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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 2019

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

news category

Related Categories:

Advanced Search