David Kornberg, CEO of speciality retail apparel company Express, is to step down from his role after leading the company for the last four years.
Kornberg, who joined Express in 2003 as EVP of men’s merchandising and design, left the company on Tuesday (22 January). While he will be employed by the company through 21 February, he no longer serves as CEO, president or as a member of the board of directors.
Following Kornberg’s departure, Express’ COO Matthew Moellering has been appointed interim-CEO and interim-president until a permanent successor has been found.
“On behalf of the board of directors, we would like to thank David for his many years of service and strong contributions to Express in multiple roles. We wish him the best of luck in his future endeavors,” says chairwoman of the board, Mylle Mangum. “During this time of transition, we have every confidence that Matt’s proven leadership will serve the company well.
Moellering has served as the company’s executive vice president and COO since September 2011 and will continue to serve as such during his tenure as interim-CEO and interim-president. Moellering has served in various roles with the company since 2006.
Prior to his service with the company, he served in various roles with Limited Brands (L Brands), Procter & Gamble, and as an officer in the United States Army. In addition, Moellering serves on the board of directors of LL Bean, Inc.
Express says it has commenced a search for a new CEO and president.
The company recently posted third-quarter results that were in line with its guidance, as net income rose to US$8m, compared to $6m in the third quarter of 2017, and net sales increased 2% to $515.0m from $503.4m a year ago.