Off-pricer Burlington Stores Sets Succession Plan

Thomas Kingsbury is stepping down as chairman, president and chief executive officer of Burlington Stores Inc. and will be succeeded in the ceo role by Michael O’Sullivan, former president and chief operating officer of Ross Stores Inc. As part of the succession plan, Jennifer Vecchio, Burlington’s chief merchandising officer, has been appointed to the new role of president and chief merchandising officer. She continues to be responsible for merchandising and planning, and will also oversee marketing and strategy. “Given our tremendous progress and the strong foundation we have established, the board and I believe now is the right time to transition to new leadership,” said Kingsbury. “Michael brings extensive experience and a proven record of success in the off-price retail business, and his team-oriented leadership style makes him a natural fit for our organization.” “Jennifer has outstanding merchandising and leadership skills, strong relationships with the vendor community and a deep understanding of our business model. She is an energetic and inspirational leader,” Kingsbury added. O’Sullivan commented, “Under Tom’s leadership, Burlington has delivered outstanding operating results. Looking forward, I continue to see additional potential for comparable store sales growth, expansion of the store fleet, and improvement in operating margins.” John J. Mahoney, Burlington’s lead independent director

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD http://bit.ly/2Psoj90