Destination Maternity has appointed its second interim chief executive since September as the ailing US retailer continues to weigh up strategies that will return it to profitability.
Melissa Payner-Gregor, an independent director of the company, will take up the role with immediate effect. She succeeds Allen Weinstein who had been in the post since September 2017 but has now made the decision to retire from the board for personal reasons.
Destination Maternity has also established an ‘Office of the CEO,’ which comprises Payner-Gregory, chief administrative officer Ronald Masciantonio, CFO David Stern, and SVP of merchandising and design Shelley Liebsch.
Payner-Gregor has served as a director of the Destination Maternity board since August 2009. She is currently working as a consultant for several retail/e-commerce companies, having served as an advisor to Bluefly Inc in 2015, and prior to that, as the company’s CEO from 2004 to 2012. She has also held senior management positions with prominent retailers and consumer products companies, including CEO of Spiegel Catalog and president of Chico’s FAS.
In a statement, Barry Erdos, chairman of the board, thanked Allen for his service and the progress that has been made. He added: “We are also appreciative of Melissa’s willingness to lead the company during this period of transition, and we are confident that she and our senior management team will continue our forward progress, as we to look for the right chief executive to lead Destination Maternity’s next phase of growth.”
Destination Maternity has been battling a number of challenges such as weakness in the women’s speciality apparel retail space, as well as declining mall-based traffic, which led to a widening of losses in its second-quarter and falling sales.
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By GlobalDataIn October last year, the company said it was analysing potential strategic alternatives in a bid to return to profitability through streamlining and investment in e-commerce.
Destination Maternity eyes options to boost growth
The company says it is working with Kirk Palmer Associates in the ongoing search for a new permanent chief executive officer.