October 29, 2015 – New York-based Herbert Mines Associates has recruited Shelley Broader as president and chief executive officer of Fort Myers-headquartered Chico’s FAS. Past CEO David Dyer had recently announced his retirement.
Ms. Broader is an executive with over 25 years of experience leading global and regional retail businesses, including Walmart, Michael’s Stores, and several banners with Delhaize Group. She most recently served as president and CEO of Walmart’s EMEA region, where she was responsible for retail operations and business development across Europe, the Middle East, Sub-Saharan Africa and Canada, leading 1,345 retail units and more than 285,000 associates. Previously she served as president and CEO of Walmart Canada, chief merchandising officer for Walmart Canada, and senior vice president for Sam’s Club, Walmart’s membership-warehouse format in the U.S.
“She brings a remarkable track record, with a global perspective and a keen understanding of how to engage consumers and partner with suppliers to drive profitable growth in a competitive retail environment,” said David Walker, Chico’s board chair.
“The company conducted an extensive CEO search and interviewed a number of highly qualified candidates,” he said. “Shelley distinguished herself as our top choice, having the extensive retail industry expertise, leadership skills and appreciation for superior service that we believe will take Chico’s FAS and each of our brands into our next phase of growth and value creation.”
Retailers now face major shifts in the workplace that require transformational CEOs who are innovative leaders with a world view. According to Herbert Mines, 31 percent of incoming retail CEO’s are, indeed, focused on international expansion as a key strategic priority, making that global mindset a competitive differentiator.
Retail CEO turnover might be accelerating as a result. According to Herbert Mines, from 2011 to 2014, 47 percent of public retail companies with revenues exceeding $1 billion experienced a chief executive change (up from 34 percent during the previous three years). Since 2007, 71 percent of retail companies have experienced a switch in CEO.
Chico’s FAS, through its brands – Chico’s, White House | Black Market, Soma, and Boston Proper, is an omni-channel retailer of women’s private branded, sophisticated, casual-to-dressy clothing, intimates, accessories, and other non-clothing items. As of August, the company operated 1,548 stores in the U.S. and Canada and sold merchandise through franchise locations in Mexico.
Herbert Mines Associates is a specialist search boutique leader 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; 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 New York-based search firm recently placed R. Shawn Neville as CEO of footwear company Aerosoles and has been retained by retailer Tuesday Morning Corp. to lead its search for a new CEO.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media