Ross ceo to exit in summer 2014

Retail Editor 2, August 17, 2012

Pleasanton, Calif. - Ross Stores vice chairman and ceo Michael Balmuth will step down as chief executive June 1, 2014, after which will become executive chairman.

The off-price chain's board of directors said it expects to elect a new ceo from within the company's executive ranks.

In his role as executive chairman, Balmuth will remain an active employee of the company, with property development and dd's Discounts continuing to report to him. He has been with the company for 23 years - 16 of them as ceo.

Norman Ferber, Ross' chairman of the board, will become chairman emeritus in June 2014, with his current consulting responsibilities to remain unchanged.

 

Featured Video

  • Why you should go to Shanghai for Intertextile Home Textiles

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT digital edition

See the June 2017 issue of Home & Textiles Today. In this issue, we discuss how U.S, ports are gearing up for the future, and what to expect from second half trade shows. See details!