Citi Trends CEO to leave
Citi Trends is on the hunt for a new chief executive.
The value-priced urban apparel retailer announced that Bruce Smith, a 12-year company veteran, has decided to resign from his position as CEO. In order to provide for an orderly transition, Smith will continue to serve as CEO until the earlier of when his successor is in place or February 1, 2020. The company has formed a search committee to identify a CEO and retained an executive search firm to assist in the process.
“We extend our thanks to Bruce for his service, dedication and leadership over more than a decade at Citi Trends,” said Brian Carney, chairman, Citi Trends, which operates 561 stores in 32 states. “He distinguished himself first as chief financial officer, rising to chief operating officer and ultimately to chief executive officer. “We deeply appreciate his commitment and hard work.”
During transition, the board has appointed Peter Sachse to serve as special advisor to the CEO. He has over three decades of experience at Macy’s Inc., including as chief growth officer, chief innovation and development officer, chief stores officer, chief marketing officer and as chief executive officer of macy’s.com.
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