Daily Newsletter

12 September 2023

Daily Newsletter

12 September 2023

Express names former Tyson Foods exec Glendinning as CEO

Stewart Glendinning brings experience in operations and finance, to apparel retailer, Express Inc. along with a demonstrated history of assembling high-performing teams and nurturing well-recognised brands.

Isatou Ndure September 11 2023

Glendinning will also become a member of the Express Board of Directors, effective 15 September and will assume the role previously held by Tim Baxter, who has resigned as CEO and member of the Board.

According to Express, Glendenning’s career is marked by a track record of operational excellence, financial acumen, and the successful cultivation of high-performing teams to bolster renowned brands.

Prior to joining Express, he held the position of group president, of prepared foods at Tyson Foods, Inc., where he oversaw all facets of the prepared foods portfolio, including well-known brands such as Jimmy Dean, Hillshire Farm, and Ball Park.

Under his leadership, this business segment achieved robust volume growth and increased market share across its retail brand offerings. Glendinning also served as chief financial officer of Tyson Foods, with responsibilities encompassing global financial planning, finance, and accounting functions.

Mylle Mangum, chairman of the Express board, expressed the board's confidence in Glendinning's ability to rejuvenate Express's performance and establish a robust foundation for future success: “He is a highly accomplished executive who will bring fresh thinking to the Company and our strategies for profitable growth. Stewart shares the Board’s belief that further operating improvements and greater financial discipline are needed to ensure that Express is best positioned to deliver significant, sustainable shareholder value.”

Glendinning said: “Express has an outstanding portfolio of brands, a high-potential partnership with WHP and a premier omnichannel platform. Through a keen focus on execution and cost discipline, I am confident we can better capitalise on these differentiators, increase the Company’s financial strength and create shareholder value. I look forward to leveraging my experience and to working closely with the Board and Express team to drive value creation for all our stakeholders.”

Express made a point of noting Baxter's resignation is unrelated to any issues regarding the Company's accounting or financial reporting and that he remains available to facilitate a seamless transition.

Global management firm, WHP Global, made a substantial investment in fashion retailer Express Inc in 2022, to advance an omnichannel platform that was expected to drive accelerated, long-term growth through the acquisition and operation of a portfolio of brands.

Traditional AI is here to stay in the retail and apparel space

Initially, retailers used AI for basic tasks, including inventory management and demand forecasting. However, its usage has now become more prevalent in other aspects such as personalized marketing, customer service, pricing optimization, and supply chain management. With the rise of ecommerce and the increasing importance of data-driven decision-making, AI adoption in retail and apparel has accelerated. The industry now relies on AI to enhance the shopping experience, optimize business operations, and gain an overall competitive edge.

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