June 3, 2015 – Women’s apparel retailer Chico’s FAS has retained search firm Herbert Mines Associates to assist its succession committee in identifying a replacement for outgoing president and CEO David F. Dyer. Mr. Dyer has given one-year notice to the board that he will retire next spring after seven years running the company. To ensure an orderly transition, Mr. Dyer will continue in his present role until a successor is designated. Mr. Dyer is a known commodity in retail circles. In 2006, he retired after serving as CEO of retailer Tommy Hilfiger Corp. He joined Chico’s board the following year and became its chief executive in early 2009. During Mr. Dyer’s tenure, the company added about $1 billion in sales, the company has said.
Earlier this year, private-equity firm Sycamore Partners abandoned its bid to buy Chico’s after failing to line up financing for the deal. The incoming CEO can expect a full plate: Chico’s has announced plans to cut capital spending, accelerate store closures and cut jobs in an effort to shore up its finances.
Prior to joining Tommy Hilfiger Corp., Mr. Dyer served as president and chief executive officer of Lands’ End from 1998 through 2002. From June 2002 until August 2003, Mr. Dyer also served as EVP of Sears where his responsibilities included the Sears Direct businesses, both internet and catalog, and its Great Indoors Home division. He also served as a member of Sears’ management executive committee.
Mr. Dyer previously served in various other roles at Lands’ End from 1989 to 1994, including as vice chairman and director from 1991 to 1994. Mr. Dyer began his career with Burdines, a division of Federated Department Stores, and held various merchandising and marketing posts during his 17 years there. He later served as president and chief operating officer of Home Shopping Network and was acting president of J. Crew Catalog from 1997 to 1998. Mr. Dyer currently also serves on the board of directors for Zale Corporation.
Herbert Mines Associates is a specialist search boutique focusing on the retail, luxury, consumer products, hospitality & food service, fashion/apparel, and e-commerce industries. The firm is noted for its C-level recruiting work, placing presidents, chief operating officers and CEOs at a number of branded retailers including: Coach, Inc.; Fred’s; Neiman Marcus; Payless ShoeSource; Ulta Beauty; Mama Rosa’s Pizza; Oregon Ice Cream Co.; Abercrombie & Fitch; Fender; Black Diamond; Bare Snacks; and Hollister Co.
The firm likely got the nod to conduct Chico’s CEO search based on its past work for the company: last year Herbert Mines recruited Miki Racine Berardelli to Chico’s as president digital commerce / chief marketing officer from Tory Burch, where she held the position of chief marketing officer.
Herbert Mines has 17 recruiters based in New York and this year ranked as the No. 14 search firm on Hunt Scanlon’s Top 50 recruiter rankings, where it consistently ranks among the Top 15. The firm was also named to Hunt Scanlon’s Power 60 list this year – a ranking of top recruiters based in New York.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media