Destination Maternity Corporation Announces Senior Leadership Transition and Appoints New Board Member
CEO
Lisa Gavales Named Chair of
Company Adds Gene Davis to Board of Directors
Senior Leadership Transition
The Destination Maternity Board has created an interim
Ms. Gavales added, “We would also like to thank Marla for her tireless
efforts and dedication as CEO of
New Board Member
“We are thrilled to be adding Gene to the Board,” said Ms. Gavales. “Gene is a uniquely talented executive who brings highly relevant turnaround management and strategic planning experience that will be valuable to the Board as we look to strengthen the business and drive long term shareholder value. We look forward to his immediate contributions.”
Currently, Mr. Davis serves as the Chairman and Chief Executive Officer
of
Mr. Davis began his career in 1980 as an attorney and international
negotiator with
About
Forward-Looking Statements
The Company cautions that any forward-looking statements (as such term
is defined in the Private Securities Litigation Reform Act of 1995)
contained in this press release or made from time to time by management
of the Company, including those regarding earnings, net sales,
comparable sales, other results of operations, liquidity and financial
condition, and various business initiatives, involve risks and
uncertainties, and are subject to change based on various important
factors. The following factors, among others, in some cases have
affected and in the future could affect the Company's financial
performance and actual results and could cause actual results to differ
materially from those expressed or implied in any such forward-looking
statements: the strength or weakness of the retail industry in general
and of apparel purchases in particular, our ability to successfully
manage our various business initiatives, the success of our
international business and its expansion, our ability to successfully
manage and retain our leased department and international franchise
relationships and marketing partnerships, future sales trends in our
various sales channels, unusual weather patterns, changes in consumer
spending patterns, raw material price increases, overall economic
conditions and other factors affecting consumer confidence, demographics
and other macroeconomic factors that may impact the level of spending
for apparel (such as fluctuations in pregnancy rates and birth rates),
expense savings initiatives, our ability to anticipate and respond to
fashion trends and consumer preferences, unanticipated fluctuations in
our operating results, the impact of competition and fluctuations in the
price, availability and quality of raw materials and contracted
products, availability of suitable store locations, continued
availability of capital and financing, our ability to hire, develop and
retain senior management and sales associates, our ability to develop
and source merchandise, our ability to receive production from foreign
sources on a timely basis, our compliance with applicable financial and
other covenants under our financing arrangements, potential debt
prepayments, the trading liquidity of our common stock, changes in
market interest rates, our compliance with certain tax incentive and
abatement programs, war or acts of terrorism and other factors set forth
in the Company's periodic filings with the
Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct and persons reading this announcement are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement. The Company assumes no obligation to update or revise the information contained in this announcement (whether as a result of new information, future events or otherwise), except as required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190612005913/en/
Source:
Sloane & Company
Erica Bartsch / Alex Kovtun, 212-486-9500
Ebartsch@sloanepr.com
/ Akovtun@sloanepr.com