Three months into his tenure as CEO for wellness and supplement retailer GNC, Mike Archbold could hardly sound more optimistic about the company and the business. "There are so many great things about this brand," said Mr. Archbold, 54, citing GNC's position as market leader and its strong cash flow, as well as customers whom he declared "the most loyal in the industry." Yet, when Mr. Archbold's appointment was announced in early August, the company's recent history prompted one website to blare: "Michael Archbold takes the hot seat."
After years of stability in the executive suite, GNC Holdings has sent longtime leader Joe Fortunato packing and installed an outsider — senior retail industry executive Michael Archbold, 53 — as CEO, effective immediately. Lead independent director Michael Hines has been elected nonexecutive chairman of the GNC board. Archbold comes to GNC from women's apparel retailer Talbots, but before that he held executive positions, including president and COO for GNC competitor Vitamin Shoppe. Tuesday's surprise announcement comes only weeks after GNC's longtime CFO Michael Nuzzo left the company to become chief administrative officer and executive vice president at 4Moms.
Columbus, Ohio -- Express has announced changes to its board of directors. Michael Archbold, president and COO of Vitamin Shoppe, has been appointed to the board as a class I director, effective Jan. 3. Archbold joined Vitamin Shoppe in 2007 as CFO and COO. He was promoted to president in 2011. Previously, he was executive VP, CFO and chief administrative officer of Saks Fifth Avenue. Archbold will also serve on the company's audit committee, replacing Stefan Kaluzny, co-founder of Sycamore Partners, who resigned in late 2011. His appointment brings Express back into compliance with the New York Stock Exchange's