Jennifer Vecchio, Marc Katz and Fred Hand Promoted to Principal
BURLINGTON, N.J.--(BUSINESS WIRE)--
Burlington Stores, Inc. (NYSE:BURL), a nationally recognized off-price
retailer of high-quality, branded apparel at everyday low prices, today
announced senior leadership promotions to support the Company’s
continued growth and recognize key executives who have made significant
contributions to the Company’s success. These changes will be effective
on January 30, 2017.
Jennifer Vecchio, the Company’s Executive Vice President/Chief
Merchandising Officer since May 2015, will be promoted to the newly
created role of Chief Merchandising Officer/Principal, and will assume
responsibility for the Merchandise Planning, Allocation and MIO
Marc Katz, the Company’s Executive Vice President and Chief Financial
Officer since January 2015, will be promoted to Chief Financial
Officer/Principal. In this newly expanded role, Mr. Katz will assume
responsibility for the Company’s Supply Chain, Procurement, Corporate
Services and Asset Protection functions, while continuing to serve as
the Company’s Chief Financial Officer and oversee the Information
Fred Hand, the Company’s Executive Vice President of Stores since
February 2008, will be promoted to the newly created role of Chief
Customer Officer/Principal. In this position, Mr. Hand will continue
to oversee Store Operations, Real Estate and Store
Design/Construction, and will assume responsibility for Marketing,
Strategy and E-Commerce.
All three executives will continue to report to Burlington’s President
and Chief Executive Officer, Thomas A. Kingsbury.
Mr. Kingsbury stated, “I am delighted to announce the promotions of
these three talented executives. Each of them has played a key role in
Burlington’s success. Their contributions have positively impacted
Burlington’s ability to execute our off-price business model by
delivering great product and sought-after brands at compelling values in
an exciting store environment. I am confident that their expanded roles
will position the Company to continue its strong performance into 2017
Mr. Kingsbury continued, “Jennifer Vecchio is an outstanding merchant
who has a deep understanding of the off-price business model and strong
relationships with the vendor community. She is a motivating leader who
is committed to developing her team, and I am confident that she will
succeed in this broader leadership position.”
“Marc Katz is an exemplary leader whose many contributions to Burlington
have played a key role in our success. Since 2008, he has led a variety
of functions, most recently the financial and information technology
groups. Marc’s broad-based financial understanding positions him well
for these additional responsibilities,” continued Mr. Kingsbury.
“Fred Hand is an exceptionally talented executive with a breadth of
retail experience and a keen focus on the needs of our customers. His
record of strong leadership at Burlington and deep experience at other
leading retailers will serve him well in his expanded role,” said Mr.
In conclusion, Mr. Kingsbury said, “Jennifer, Marc and Fred have
consistently demonstrated strong business acumen and exceptional
managerial skills. This new leadership structure positions the Company
for continued growth and success.”
About Burlington Stores, Inc.
Burlington Stores, Inc., headquartered in New Jersey, is a nationally
recognized off-price retailer with fiscal 2015 revenue of $5.1 billion.
The Company is a Fortune 500 company and its common stock is traded on
the New York Stock Exchange under the ticker symbol “BURL.” The Company
operated 592 stores as of the end of the third quarter, inclusive of an
internet store, in 45 states and Puerto Rico, principally under the name
Burlington Stores. The Company’s stores offer an extensive selection of
in-season, fashion-focused merchandise at up to 65% off other retailers'
prices, including women’s ready-to-wear apparel, menswear, youth
apparel, baby, beauty, footwear, accessories, home and coats.
For more information about the Company, visit www.burlingtonstores.com.
Safe Harbor for Forward-Looking and Cautionary Statements
This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended (Exchange Act). All
statements other than statements of historical fact included in this
release are forward-looking statements. Forward-looking statements
discuss our current expectations and projections relating to our
financial condition, results of operations, plans, objectives, future
performance and business. You can identify forward-looking statements by
the fact that they do not relate strictly to historical or current
facts. We do not undertake to publicly update or revise our
forward-looking statements even if experience or future changes make it
clear that any projected results expressed or implied in such statements
will not be realized. If we do update one or more forward-looking
statements, no inference should be made that we will make additional
updates with respect to those or other forward-looking statements. All
forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially from those we expected,
including competition in the retail industry, seasonality of our
business, adverse weather conditions, changes in consumer preferences
and consumer spending patterns, import risks, inflation, general
economic conditions, our ability to implement our strategy, our
substantial level of indebtedness and related debt-service obligations,
restrictions imposed by covenants in our debt agreements, availability
of adequate financing, our dependence on vendors for our merchandise,
events affecting the delivery of merchandise to our stores, existence of
adverse litigation and risks, availability of desirable locations on
suitable terms and other factors that may be described from time to time
in our filings with the Securities and Exchange Commission (SEC). For
each of these factors, the Company claims the protection of the safe
harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, as amended.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170120005609/en/
Source: Burlington Stores, Inc.