US: Destination Maternity co-founder to retire next year
Apparel retailer Destination Maternity Corporation has announced that its president and chief creative officer, Rebecca Matthias, will retire on 30 September 2010.
Matthias will continue to serve the company in a full-time capacity until 15 June 2010, at which time she will be available to the company on a part-time basis until 30 September - the end of its fiscal year.
After her retirement in September, Matthias will remain available to management in an advisory capacity until 2012, the company said. Matthias continues to serve as a director of the company.
Ed Krell, chief executive officer and director of Destination Maternity, said: "The board greatly appreciates Rebecca's contributions to Destination Maternity as a co-founder from its inception as a small catalogue business over 25 years ago to its current position as the leader in maternity apparel."
Matthias said: "Following Dan's departure as CEO a bit over a year ago, we have had an extremely smooth transition led by Ed Krell as our CEO, and we have taken significant actions to improve the profitability of our business and position it for future growth.
"I am confident in the future of the company under Ed's leadership, both in the near term and in the long-term, and feel the company is in a very strong position with a very strong team in place."
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Maternity apparel retailer Destination Maternity Corporation today (28 April) lifted its full-year earnings guidance after beating expectations and swinging to a second quarter profit....
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