Ascena appoints David Jaffe as Chairman of the Board of Directors

By

Obi Anyanwu

Published
Dec 11, 2016

Ascena on Friday announced the appointment of David Jaffe as Chairman of the Board. Jaffe currently serves as Ascena President and Chief Executive Officer.
 

David Jaffe joined Ascena in 1992 as VP of Business Development and later served as Senior Vice President from 1995 to 1996 and Executive Vice President from 1996 to 2001. The Wharton School at the University of Pennsylvania graduate has served as Ascena President and CEO since February 2002.
 
David succeeds Ascena Co-Founder Elliot S. Jaffe, who retired as Non-Executive Chairman of the Board of Directors at the end of the 2016 Annual Meeting of Stockholders on December 8, 2016. The company recognizes Elliot Jaffe’s 50-plus year tenure with the company with the honorary title of Chairman Emeritus.

Elliot Jaffe co-founded Dressbarn with his wife, Roslyn, in 1962, and he served as CEO from 1966 to 2002. He was named Ascena’s Chairman of the Board in 2011 when the company reorganized with the name Ascena Retail Group, and he later transitioned to Non-Executive Chairman.
 
Ascena recently restructured its business creating four operating segments to perform better in the market. The company released its quarterly results in December, which included net sales and net income increases over the prior year.