Bill Prange resigns from Christopher & Banks Corporation
13 Dec '05
3 min read
Minneapolis-based apparel store Christopher & Banks Corporation announced the resignation of Bill Prange as Chairman and Chief Executive Officer. Prange also resigned from the Board of Directors of the Company.
While Prange's resignation is effective immediately he has agreed to remain available to work with the Company in an advisory capacity.
Prange commented, "I regret that my health no longer allows me to make the substantial commitments of time and travel that I feel are needed for me to continue as CEO of the Company. Fortunately, the Company and the Board began preparing for management succession some time ago. I am confident the management team now in place will lead Christopher & Banks to continued success."
Larry Barenbaum, a director of the Company since 1992 and currently the Company's Lead Director will become Chairman of the Board.
In addition, the Company's Board of Directors has named Joseph Pennington as Chief Executive Officer. Pennington has been President of the Company since 1999, and first joined the Company in 1997. Previously he had served as President and Chief Executive Officer of American Specialty Stores, a privately held women's apparel chain doing business as The id Stores.
Matthew Dillon, has been promoted to President and Chief Merchandising Officer. In addition to merchandising responsibilities for all three of the Company's brands, Dillon will also be responsible for the Company's marketing efforts as well as the implementation of the Company's merchandise vision throughout the store organizations.
marketing@alchempro.com
