Chico’s FAS Announces CEO Transition Plan — Bonnie Brooks Appointed Interim CEO

FORT MYERS, Fla. — April 24, 2019 — Chico’s FAS Inc. today announced that Bonnie Brooks, former vice chair, president and CEO of Hudson’s Bay Co. and a current member of the Chico’s FAS board of directors, has been appointed interim CEO of the company, effective immediately. This appointment follows the resignation of Shelley Broader from her roles as CEO and president, and as member of the board.

“Bonnie is a successful retail executive and merchant who has led the turnaround of other fashion retailers, and we are pleased to have her step into the CEO role on an interim basis,” said David Walker, chair of the Board. “Her experience in the industry as well as her time on the Chico’s FAS Board give her a deep understanding of our brands and customers. We are confident that Bonnie will be able to quickly step into the business to benefit the sales, products and merchandising across all of the Company’s brands as the Board continues its search for a permanent CEO with a strong apparel track record.”

Walker further commented: “On behalf of the Board, I would like to thank Shelley for her many contributions to Chico’s FAS over the past three and a half years. We appreciate the significant operating improvements she initiated and implemented and wish her well in her future endeavors.”

Brooks said: “One of our company’s key competitive advantages is the loyalty and strength of the core customer. We look forward to tapping into this further, and more aggressively, to enhance the growth and positioning of our Chico’s, White House Black Market, Soma and our newest brand, TellTale™. We have dedicated associates across the organization, and I look forward to working with them as Interim CEO.”

Chico’s FAS has engaged Herbert Mines Associates to search for a permanent CEO and President. The board Search Committee is Chaired by Bill Simon, a member of the Chico’s FAS Board since 2016 and previously president and CEO of Walmart U.S. and executive vice president of Walmart Stores Inc. Janice Fields, a member of the company’s board since 2013 and formerly president of McDonald’s USA LLC, and Brooks also serve on the committee.

Brooks has been a member of the Chico’s FAS Board since 2016. She has more than 30 years of global retail executive leadership experience. From 2014 to 2016, she served as the vice chair of Hudson’s Bay Co., a fashion retail group operating through multiple banners, including Hudson’s Bay, Home Outfitters, Lord & Taylor, Saks Fifth Avenue, Saks Off Fifth and Kaufhof. Brooks joined Hudson’s Bay in 2008 as CEO and president. From 2012 to 2014, Brooks served as president of Hudson’s Bay Co., responsible for both Hudson’s Bay and Lord & Taylor department stores USA. From 1997 to 2008, Brooks was based in Hong Kong serving as an executive officer, including as president of the Lane Crawford Joyce Group, a women’s fashion retailer with over 500 stores in Asia, and as global merchandise manager for Dickson Concepts (International) Ltd., a luxury retail group and owner of Harvey Nichols, UK. Prior to that, Brooks spent over a decade at Holt Renfrew & Co., a Canada-based fashion department store, in roles that included executive vice president and general merchandise manager.

Brooks also serves on the board of directors of Rogers Communications Inc., a Canadian diversified communications and media company, and she is a trustee of RioCan Real Estate Investment Trust, a North American real estate owner and developer. Ms. Brooks was formerly a director of Abercrombie & Fitch Co.

Posted April 24, 2019

Source: Chico’s FAS