Ascena Retail Group, Inc. Appoints Brand Presidents for dressbarn and maurices
SUFFERN, N.Y.--(BUSINESS WIRE)-- Ascena Retail Group, Inc. (NASDAQ - ASNA) today announced that its Board of Directors approved new management structures for its dressbarn and maurices brands. Jeff Gerstel has been appointed President of dressbarn, and George Goldfarb has been appointed President of maurices effective immediately. Both Messrs. Gerstel and Goldfarb will report to David Jaffe, President and CEO of Ascena Retail Group, Inc.
Mr. Gerstels executive career spans more than 20 years and includes extensive experience in both retail and investment banking. He joined dressbarn in November, 2006 as Senior Vice President of Operations overseeing stores, physical operations and lease administration. Most recently, he has served as its EVP-Chief Operating Officer.
Mr. Goldfarb has a deep history with maurices. He joined the company in 1985 after working in public accounting, he has led several areas of the organization including finance, real estate and planning/allocation. He joined the maurices senior leadership team in 2003 as Chief Financial Officer, and, most recently, has served as its EVP-Chief Operating Officer.
David R. Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, This structure better positions each brand for the future, and allows me more time to focus on Ascenas growth. George and Jeff are impressive leaders with extensive retail experience and dedication to both our customers and associates. Their expertise and commitment will ensure that our business philosophies and values remain solid, but that our strategic focuses will continually drive each brand forward.
About Ascena Retail Group, Inc.
Ascena Retail Group, Inc. is a leading national specialty retailer of apparel for women and tween girls, operating through its wholly-owned subsidiaries, the dressbarn, maurices and Justice brands. The Company operates through its subsidiaries over 2,500 stores throughout the United States, Puerto Rico and Canada, with annual revenues of approximately $2.9 billion.
dressbarn offers casual, career and special occasion fashion apparel and accessories at value prices for women ages 35-55, operating 836 stores in 47 states. maurices offers casual and career apparel and accessories at value prices to the fashion-conscious woman, ages 17-34 with a 20-something attitude, and operates 797 stores in 44 states. Justice offers trend-right apparel and accessories at value prices for tween girls ages 7-14 and operates 917 stores in 46 states, Puerto Rico and Canada.
Ascena Retail Group, Inc.
James Palczynski, 203-682-8229
Senior Managing Director
Source: Ascena Retail Group, Inc.Copyright Business Wire 2011