Houston -- Francesca's Holdings Corp. announced that in connection with a management restructuring, Theresa Backes, president and COO of Francesca's, will be leaving the company effective Jan. 27.
The board of directors appointed Neill P. Davis, Francesca's CEO, to the additional title of president. The retailer said it will not replace the COO position, and will realign the responsibilities among Davis and other existing executive officers.
"We believe this reorganization will bring me closer to others within our management structure as we focus on growing our business,” David said. “We believe our differentiated business model, combined with our retail growth strategy and execution of our operational initiatives will continue to drive improvements in long-term shareholder value."