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Executive Shake-up at Ross

Peters Resigns from Company, Board of Directors

Pleasanton, Calif. — In the midst of a structural realignment that includes seven promotions at Ross Stores, Inc., James Peters, who had served as president and chief operating officer since 2000, has resigned from the company and board of directors.

Michael Balmuth, vice chairman and CEO, has assumed the additional title of president.

Gary Cribb has been named executive vice president and chief operations officer. He will direct store operations for both Ross Stores and dd's Discounts and will also be responsible for the company's distribution function. Cribb joined Ross in 2002 as senior vice president, store operations. From 1998 to 2002, he served as senior vice president of sales and operations for Staples, after holding various operational management positions in the prior decade with Office Depot, Marshalls and May Department Stores.

Michael O'Sullivan has been appointed executive vice president and chief administrative officer with responsibility for strategy, finance, information systems, human resources and legal. Before joining Ross in 2003 as senior vice president, strategic planning and marketing, he spent 13 years as a partner with Bain & Company providing consulting services to retail, consumer goods, financial services and private equity clients.

James Fassio has been promoted from senior vice president to executive vice president of property development, construction and store design. He helped execute the company's real estate strategy since joining Ross as vice president of real estate in 1988.

Barry Gluck has been named executive vice president, merchandising, with continued responsibility for the men's business. Marketing and planning and allocation will also now report to him. Gluck joined Ross in 1989 and most recently was senior vice president and general merchandise manager.

Barbara Levy also has been appointed executive vice president, merchandising. She will continue to direct the ladies businesses, while also assuming additional responsibility for accessories. Levy previously served as senior vice president and general merchandise manager since joining the company in 1993.

Barbara Rentler has been promoted from senior vice president to executive vice president, chief merchandising officer, of dd's Discounts. She joined Ross in 1986 and has held several merchandise management positions including senior vice president and general merchandise manager during her tenure with the company.

Jennifer Williams has been named senior vice president and general merchandise manager with responsibility for shoes, lingerie and children's. She has been with Ross since 1997 and most recently served as group vice president and divisional merchandise manager.

All of these executives will report directly to Balmuth. Additionally, Michael Wilson has rejoined Ross as senior vice president, distribution and transportation, reporting to Cribb.

Wilson, a four-year veteran of Ross Stores before leaving in 2003, replaces Jeff Klingensmith, who has resigned from the company.

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