Ross Stores Announces Long-Term CEO Succession Plan
21 June 2023 - 6:15AM
Business Wire
Ross Stores, Inc. (Nasdaq: ROST) announced today that its Board
of Directors has approved a new employment agreement with Barbara
Rentler, Vice Chair and Chief Executive Officer, which will now
extend through March 31, 2027. The new agreement provides for Ms.
Rentler, 65, to continue as CEO through January 31, 2026. By that
date, the Board expects to have selected her successor, and Ms.
Rentler will become a Senior Advisor through the end of March
2027.
In commenting on behalf of the Board, George Orban, Chairman
said, “Barbara Rentler is an outstanding executive and gifted
merchant who has made significant contributions to our Company’s
growth and success since joining Ross in 1986. As CEO, she has
provided the vision and leadership to navigate the Company
successfully through both favorable and more challenging external
landscapes with a focus on maximizing our opportunities for growth
and profitability. This long-term succession plan will enable us to
continue to benefit from Barbara’s more than three decades of
leadership at Ross, while supporting a smooth transition to a new
CEO.”
Barbara Rentler, Vice Chair and Chief Executive Officer
commented, “Serving as CEO and leading the incredibly talented and
committed teams we have throughout the business has been, and
continues to be, a great privilege. I look forward to our continued
success.”
Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100
(ROST) company headquartered in Dublin, California, with fiscal
2022 revenues of $18.7 billion. Currently, the Company operates
Ross Dress for Less® (“Ross”), the largest off-price apparel and
home fashion chain in the United States with 1,704 locations in 40
states, the District of Columbia, and Guam. Ross offers
first-quality, in-season, name brand and designer apparel,
accessories, footwear, and home fashions for the entire family at
savings of 20% to 60% off department and specialty store regular
prices every day. The Company also operates 330 dd’s DISCOUNTS®
stores in 22 states that feature a more moderately-priced
assortment of first-quality, in-season, name brand apparel,
accessories, footwear, and home fashions for the entire family at
savings of 20% to 70% off moderate department and discount store
regular prices every day. Additional information is available at
www.rossstores.com.
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Adam Orvos Executive Vice President, Chief Financial Officer
(925) 965-4550
Connie Kao Group Vice President, Investor Relations (925)
965-4668 connie.kao@ros.com
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