GNC rewards CEO with new title
Ken Martindale has been busy since he left the helm of Rite Aid to become CEO of GNC last September — and he just got an additional job at the specialty health-and-wellness retailer.
Martindale has been named chairman of GNC chairman, effective immediately. He succeeds Bob Moran, who will become GNC’s lead independent director.
Martindale’s appointment to the board comes as part of an ongoing transaction with Chinese Pharmaceutical company Harbin Pharmaceutical Group (Hayao), through which the two companies will form a joint venture to bring GNC-branded products to Chinese consumers.
As part of the joint venture, the company is receiving a roughly $300 million investment from the Hayao — a 40% stake that will make it GNC’s single largest shareholder once the transaction closes. In addition to Martindale joining the board as chairman, the transaction will involve the board expanding to include five members from GNC and five members from Hayao.
“Ken has demonstrated exceptional leadership and strategic insight in his role as CEO, and the board looks forward to continuing to benefit from his insight and expertise as he assumes the role of chairman,” Moran said. “We are confident that under Ken’s continued leadership we will be even better positioned to effectively implement our strategic plans and drive shareholder value.”
Since Martindale took the helm, the company also has focused on streamlining its portfolio, including the closure of 200 American and Canadian stores this year, an effort the retailer announced in April alongside its earnings and a plan to curb its store openings in 2018.
“I am honored to take on this new role as we accelerate our efforts to reposition GNC to drive growth, improve our financial strength and performance and enhance shareholder value,” Martindale said. “We continue to expect the transaction with Harbin Pharmaceutical Group to close later this year, and I look forward to working with the rest of the board as we execute our strategy to build on the strength of the GNC brand, leverage our capabilities in product and service innovation, expand our international presence and deliver a compelling, integrated customer experience.”
The companies have said they expect the Hayao deal to close in the latter half of 2018.
New presidents named for Loft, Ann Taylor
Ascena Retail Group has promoted insiders to presidents of the brands in its premium fashion segments.
The apparel retail giant named Andrew Clarke as president of its Loft brand. Since 2017, he has held the role of executive VP, chief merchandising officer at ascena’s Justice brand.
Prior to Justice, Clark was president of Kmart apparel for Sears Holdings Corp. He began his career at Marks and Spencer PLC.
In addition, Julie Rosen was tapped as president of the Ann Taylor and Lou & Grey brands. Since 2016, she held the role of senior VP, general merchandise manager at ascena’s Ann Taylor brand. In early 2018, her role was expanded to include the Lou & Grey brand.
Rosen started her career at Gap’s Banana Republic and was named VP of women’s merchandising in 2000 and senior VP in 2001. In 2007, Rosen founded Julie B. Rosen Consulting. She rejoined GAP Inc. as senior VP of merchandising for Banana Republic in 2009.
“Julie and Andrew are strong leaders, who are committed to both their customer and teams, and I am confident that they will serve these amazing brands well,” said Gary Muto, president and CEO, ascena Brands
Ascena operates e-commerce websites and approximately 4,700 stores throughout the United States, Canada and Puerto Rico. It offers apparel, shoes, and accessories for women under the Premium Fashion segment (Ann Taylor, Loft, and Lou & Grey), Value Fashion segment (maurices and dressbarn), Plus Fashion segment (Lane Bryant, Catherines and Cacique), and for tween girls under the Kids Fashion segment (Justice).
Vitamin Shoppe names new merchandising, marketing chief
A retailer that specializes in nutritional products tapped a 30-year retail veteran to head up its merchandising and marketing efforts.
The Vitamin Shoppe named David Mock as its executive VP, chief merchandising and marketing officer, effective July 30, 2018. He has been serving as a consultant to the company since January.
Mock brings three decades of merchandising experience to the position. Most recently, he served as president of D Mock Retail Rebuild Ltd. Prior to that, he was chief merchandising and marketing officer for Earth Fare.
Mock also served as senior VP merchandising, global sourcing and innovation officer for Canadian Tire Retail, as well as senior VP merchandising, hardlines, consumables, pharmacy, haba/cosmetics for Zellers. He also held various positions at Loblaw Companies Limited, with his last position being senior VP food merchandising and marketing.
“We are delighted to have Dave join the Vitamin Shoppe leadership team,” said Alex Smith, chairman of the Vitamin Shoppe. “He is a talented and experienced retail executive with significant experience in retail transformation and a proven track record of successfully implementing strategies and rapidly turning around retailers driving top line growth and improved profitability. We look forward to working with Dave as we continue building on the transformational work that is underway.”
The appointment comes on the heels of the retailer appointing Sharon M. Leite as its new CEO, effective August 27, 2018. She will also become a member of the board. Most recently, Leite served as president of Godiva Chocolatier in North America, a position she has held since October 2017.
The Vitamin Shoppe conducts business through more than 775 company-operated retail stores under The Vitamin Shoppe and Super Supplements retail banners, and through its website.