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
Columbus, Ohio -- Express said Thursday that its CEO, Michael Weiss, will also take over the role of board chairman, because of the current chairman's involvement in a rival company. Weiss succeeds Stefan Kaluzny in the chairman's job. Kaluzny joined Express' board when the private equity firm where he worked, Golden Gate Capital, bought Limited Brands in 2007. Kaluzny has since joined another private equity firm, Sycamore Partners, which recently brought a controlling stake in Mast Global Fashions, which is Limited Brands' apparel sourcing division.
Sycamore Partners, a private equity firm based in New York, and Limited Brands announced that Sycamore has acquired a controlling 51 percent interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands.
NEW YORK — Talbots said on Tuesday that its board of directors has adopted a shareholder rights plan -- or a poison pill -- to protect its stockholders after a private equity firm disclosed it had acquired a sizeable stake in the company. On Monday, Sycamore Partners LP revealed it had acquired a 9.9% stake in Talbots and said it planned to attempt to talk with the retailer about strategy and operations. Reports put Talbots’ market value at $288 million, and suggest a buyout would exceed $400 million. In its move to protect shareholder value, Talbots adopted the poison