US retailer Vince's CEO resigns; David Stefko appointed interim CEO

28 Mar '24

2 min read

Pic: David Stefko/LinkedIn

Insights

Jack Schwefel resigns as CEO of Vince Holding Corp.; Stefko becomes Interim CEO.
The Board commends Schwefel's contributions and initiates a search for a permanent CEO.
Stefko, former CFO and current Director, brings over 30 years of experience.
The company stays committed to its 2023 profitability goals, with financial results expected by late April 2024.

Vince Holding Corp., (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, announced that Jack Schwefel has resigned as Chief Executive Officer. The Company’s Board of Directors has appointed David (“Dave”) Stefko, current Director and former Chief Financial Officer of the Company, as Interim Chief Executive Officer, effective immediately, and has initiated a search process to identify a permanent Chief Executive Officer.

“The Board thanks Jack for his work in positioning Vince for its next chapter of growth and wishes him the best as he pursues other opportunities,” said Michael Mardy, Chairman of the Board of Directors. “We are committed to finding a leader who has the skills and vision to continue to keep Vince on its trajectory to achieve its long-term objectives. Through his experience as CFO and as a member of our Board, Dave brings significant understanding of the Company and is well-respected across the organization. Having previously served as Interim CEO during a time of prior transition and amidst the volatility of the Covid-19 pandemic, the Board is confident in Dave’s ability to lead the organization during this period.”

Mr. Stefko has over 30 years of senior finance and executive management experience, and has been a member of the Board since June 2023 after retiring from his role as the Company’s Chief Financial Officer which he held from 2015 to 2023. In addition to his tenure as VNCE’s Chief Financial Officer, Mr. Stefko served as the Company’s Interim Chief Executive Officer from August 2020 to March 2021.

Mr. Stefko said, “I am proud to rejoin the leadership team during this transition as we continue to execute our transformation plan and progress our strategic initiatives focused on driving long-term profitable growth.”

The Company remains on track with its profitability objectives for full year 2023. The Company is still finalizing its annual closing procedures and expects to report fourth quarter and full year 2023 financial results by late April 2024.