MAHWAH, N.J.--(BUSINESS WIRE)--May 17, 2018--
ascena retail group, inc. (NASDAQ:ASNA), today announced that John
L. Welborn, Jr. has been appointed as a member of ascena’s Board of
JOHN L. WELBORN, Jr. joins the Board with extensive experience in
capital markets and investing. Mr. Welborn currently serves as a
Managing Director for Stadium Capital Management, LLC, an investment
advisory firm whose funds are significant long-term ascena stockholders.
Prior to joining Stadium in 2000, Mr. Welborn was a Financial Analyst at
The Beacon Group, LLC, an investment and advisory firm that is now part
of J.P. Morgan Chase & Co. At Beacon, Mr. Welborn was a member of the
Mergers & Acquisitions Group, focusing on financial services and
consumer product companies and the Liquid Investments Committee. From
2012-2014, Mr. Welborn served as a director and member of the governance
committee for Intermountain Community Bancorp and a director of
Panhandle State Bank, Inc.
“We seek open dialogue and input from our stockholders and believe that
John’s long-term stockholder perspective as well as his extensive
capital markets and investment experience will benefit the company and
its stockholders,” said Kate Buggeln, who chairs the Board’s Leadership
and Corporate Governance Committee.
“John possesses the relevant expertise that complements the talents of
our current directors. We look forward to benefitting from his added
perspective to ascena’s Board and believe that he will make a
substantial contribution to the company while serving the best interests
of all of its stockholders,” said David Jaffe, Chairman and Chief
Executive Officer of ascena retail group.
“I am excited to join ascena’s Board of Directors. Stadium Capital is
once again a significant stockholder, and we have had a strong and
constructive working relationship with ascena for almost twenty years.”
said Mr. Welborn. “Now as a member of the Board, I look forward to
working with the full Board to help ascena drive long-term stockholder
About ascena retail group, inc.
ascena retail group, inc. (NASDAQ:ASNA) is a leading national specialty
retailer offering apparel, shoes, and accessories for women under the
Premium Fashion segment (Ann Taylor, LOFT, and Lou & Grey), Value
Fashion segment (maurices and dressbarn), Plus Fashion segment (Lane
Bryant and Catherines), and for tween girls under the Kids Fashion
segment (Justice). ascena retail group, inc. operates ecommerce websites
and approximately 4,700 stores throughout the United States, Canada and
For more information about ascena retail group, inc. visit:
ascenaretail.com, AnnTaylor.com, LOFT.com, louandgrey.com, maurices.com,
dressbarn.com, lanebryant.com, cacique.com, Catherines.com, and
Note Regarding Forward-Looking Statements
Certain statements made in this release may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially. Forward-looking statements are statements related to
future, not past, events, and often contain words such as “expect,”
"anticipate," "intend," "plan," "believe," "seek," "see," "will,"
"would," “estimate,” “forecast,” "target," “preliminary,” or “range.”
The Company does not undertake to publicly update or review its
forward-looking statements even if experience or future changes make it
clear that our projected results expressed or implied will not be
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Source: ascena retail group, inc.
James Palczynski, 203-682-8229
ascena retail group, inc.
Sue Ross, 218-491-2110
ascena Corporate Affairs