December 23, 2020 – New York-based retail and consumer focused executive search firm Herbert Mines Associates recently partnered with The Container Store Group in the recruitment of experienced retail executive Satish Malhotra as the company’s new president and CEO. He will succeed Melissa Reiff on Feb. 1.
The search, led by managing directors Adelle Kirk and Kristin Dennehy, entailed a comprehensive review and evaluation of executives across consumer-facing multi-unit and purpose-driven companies who had the appropriate scope and scale for this role. “We partnered with The Container Store’s board of directors to conduct a thorough search for a seasoned retail executive with the capacity to maximize the company’s powerful brand and market position, expand its omni-channel capabilities, and maintain its unique culture and values,” said Ms. Kirk. “Satish Malhotra is an omni-channel, digitally savvy, customer focused executive with a deep appreciation for culture and values. He has been an integral part of Sephora Americas’ growth story for the past 21 years. Satish leads with authenticity, humility, and purpose. He was the clear choice to take The Container Store into its next exciting chapter.”
“The board and I have spent months preparing for my planned retirement and, after a thorough and exhaustive search, we are thrilled to announce the appointment of Satish Malhotra as our next CEO and president,” said Ms. Reiff. “Satish is a seasoned retail executive, with decades of diverse and valuable experience, who I believe will be a great fit for our organization. The timing of this leadership transition could not be better, with our company enjoying the success of the multi-year sales and profit revitalization efforts that have driven, and are expected to continue to drive our performance,” she said.
“We have an extraordinarily talented team that I have been privileged to lead, a unique and differentiated business and a long runway for growth ahead,” she added. “I am delighted to welcome Satish and look forward to watching the continued success of The Container Store under his leadership.”
Mr. Malhotra was previously chief retail and operating officer for Sephora. He was one of the first executives to join Sephora in its debut to the U.S. retail landscape and, in his 21 years with the company has grown and supported the business in various leadership roles. Prior to his current role, Mr. Malhotra served as chief operating officer for Sephora and was responsible for technology, supply chain, store development, legal, strategy and partnerships, including the Sephora inside JCPenney (SiJCP) business which now operates over 600 stores. He also spent several years overseeing Sephora’s expansion into Canada and Latin America. Before joining Sephora, Mr. Malhotra was a transaction services senior associate at PwC.
“I have long admired The Container Store and the leadership position they have developed in the storage and organization niche, as well as their quest for custom closet domination that I believe is well underway,” said Mr. Malhotra. “The innovation, creativity and culture of the organization are truly extraordinary and I am thrilled to become a part of this and lead the company into its next chapter of growth.”
The Container Store Group is a retailer of storage and organization products and solutions – a concept the company originated in 1978. Today, with locations nationwide, the retailer offers more than 11,000 products designed to help customers accomplish projects, maximize their space and make the most of their home. In 2007, the company was acquired by private equity firm Leonard Green & Partners.
Serving Retail Companies
Established in 1978, Herbert Mines is a specialist search firm focusing on the retail, fashion and apparel, beauty, consumer products and services, hospitality, leisure, restaurant and digital/technology industries. The firm is noted for its C-suite recruiting work.
Herbert Mines Associates recently partnered with alternative investment firm Bain Capital in the recruitment of Bill Barton as president and CEO of Bob’s Discount Furniture in Manchester, CT. “Bill is an exceptional and customer-centric leader with deep retail and home goods experience,” said Mr. English. “He is the ideal person to work with our talented team to lead Bob’s Discount Furniture through its next phase of growth. Our business has experienced tremendous growth since we reopened our stores with a heavy focus on safety for our customers and our associates. We expect this momentum to continue as we head into the holiday season and plan for 2021 and beyond.”
Ms. Kirk brings 25 years in retail and consumer goods to Herbert Mines Associates. During her 11 years in recruiting, she has led C-level searches for both public and private companies including Sally Beauty Holdings, PetSmart, Batteries Plus Bulbs, Levi Strauss, Burlington Stores, The Container Store, Lilly Pulitzer, Johnny Was and many others. Ms. Kirk works across the C-suite to find talent for publicly-traded, omni-channel retailers, consumer-driven brands in all stages of growth, and founder-led or private equity backed businesses undergoing transformation. Her expertise extends across product categories/sectors including hardlines, fashion, home, fitness/athleisure and consumables. She has placed C-suite executives in a broad range of disciplines with particular focus on general management, finance, supply chain, operations, merchandising and sales.
Ms. Dennehy’s executive search practice includes clients in omni-channel retail businesses across a range of sectors, including apparel, jewelry/accessories, footwear, home, luxury goods, health/wellness and hardiness, and clients in consumer-facing businesses, including restaurants and hospitality. She has placed C-suite executives in a broad range of disciplines, including chief executive, chief operating and chief financial officers, as well as senior merchandising, marketing, digital/E-Commerce, customer experience, creative/design and store operations/planning executives. Ms. Dennehy is also active in assignments for the private equity community, finding CEOs for their portfolio companies. In addition, she often partners with founder-led brands on talent initiatives.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media