Express CEO David Kornberg steps down
Ohio-based apparel retailer Express, Inc. announced on Tuesday that David Kornberg is stepping down from his positions as chief executive officer, president and member of the company’s Board of Directors, effective immediately. Matthew Moellering has been appointed by the Board to take over as interim CEO and president until a replacement can be found.
Having joined Express in 1999, Kornberg became the retailer’s CEO in January 2015, succeeding long-serving CEO Michael Weiss. He will continue to be employed by the company through February 21.
“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,” commented Mylle Mangum, Express’ chairman of the Board, in a release. “During this time of transition, we have every confidence that Matt’s proven leadership will serve the company well.”
Moellering joined Express in 2006 and has been executive vice president and chief operating officer since September 2011. He will continue to serve in these roles during his time as interim CEO.
Prior to his arrival at Express, the 52-year-old executive spent stints at L Brands and Procter & Gamble. He also serves on the Board of Directors of L.L. Bean, Inc.
In November, Express reported that it had seen lower-than-expected sales in the first few weeks of the holiday period and revised down its fourth-quarter guidance, sending share prices tumbling.
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