Jul 4, 2017
Christopher & Banks COO and CFO resigns
Jul 4, 2017
Pete Michielutti, Executive Vice President, Chief Operating Officer and Chief Financial Officer of Christopher & Banks, announced his resignation last week.
Michielutti joined Christopher & Banks in 2012 as the COO. After holding the role for five years, he was promoted to EVP, COO and CFO for another three years. Michielutti is leaving for another opportunity not yet released to the public.
Prior to Christopher & Banks, Michielutti was a CFO at CSM Corporation, a commercial real estate company. He holds a Bachelor's degree in accounting from DePaul University.
Christopher & Banks is a women's specialty retailer. It is headquartered in Minneapolis and operates in 45 states.
Michielutti is the second top executive to leave Christopher & Banks this year. In January, the company fired its Chief Executive Officer, LuAnn Via. It has been reporting weak sales since the holiday 2016 season.
Joel Waller is the company's interim President and CEO. He returned to the company six months ago. He said that Michielutti had worked to implement new systems and improvements which the company "believe[s] are bearing fruit and facilitating our turnaround."
While Michielutti's next move is still being kept private, Christopher & Banks announced his final day would be July 14, 2017.
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