Ross Stores chief operating officer exits
today Apr 12, 2019
Ross Stores, Inc. has announced the departure of Michael O’Sullivan, the department store company's president and chief operating officer since 2009, effective immediately.
The executive has also resigned from the company's board of directors. According the the company, he has resigned in order to accept a position with another company.
Prior to joining Ross Stores, O'Sullivan also served as a partner at management consulting company Bain & Company and as vice president of JP Morgan Chase.
Michael Hartshorn, the company’s group executive vice president, finance and legal and chief financial officer, will report to Barbara Rentler, Ross Stores' chief executive officer. Also reporting to Rentler will be Mike Kobayashi, group executive vice president, supply chain, merchant operations and technology.
Gary Cribb, group executive vice president, stores and loss prevention, will report to Jim Fassio, president and chief development officer.
“[O'Sullivan] has made numerous valuable contributions to the growth and success of our business since he joined Ross in 2003," said Rentler. “Looking ahead, we are confident in our deep bench of highly talented senior executives. We believe that their proven leadership skills will continue to drive the successful execution of our off-price strategies and thus, maximize our ability to deliver ongoing increases in shareholder value.”
The company now expects to make management changes that will be announced over the coming months.
Ross Stores, whose subsidiaries include Ross Dress for Less (Ross) and DD's Discounts, recently announced plans to open approximately 100 new stores throughout fiscal year 2019.
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