Vera Bradley CEO to retire
Vera Bradley, Inc. announced on Thursday the planned retirement of president and chief executive officer Robert Wallstrom and the launch of a search for its next CEO.
A new CEO is expected to be named by the beginning of 2023. Wallstrom will remain president and CEO until a successor is named, and he will work with the board of directors in their national search for his successor. Both internal and external candidates will be considered for the CEO role.
“Rob is a bold leader, an innovator, and a visionary who has worked tirelessly to evolve the company and position it for growth […] I am proud to have partnered with Rob over the last nine years, and we are grateful for his principled and collaborative leadership,” said Robert Hall, chairman of the company’s board of directors.
“As we search for Rob’s successor, we are in the desirable position of having two strong, iconic brands – Vera Bradley and Pura Vida – with loyal and dedicated customer bases, a solid balance sheet, and a talented leadership team. The Board takes very seriously its responsibility to find the right CEO who will continue our focus on building consistent, sustainable growth over the long term.”
Wallstrom has led Vera Bradley since 2013, executing the company’s business transformation including the expansion of the company’s portfolio in 2019 with the acquisition of lifestyle brand Pura Vida.
“It has been my great privilege to serve as president and CEO of Vera Bradley, Inc. over the last nine years, and it has been a tremendous honor to work with our highly talented, creative, and dedicated team of associates,” said Wallstrom.
“We have driven innovation across both of our brands, built strong engagement with our associates and customers, and enhanced our purpose-driven mission. I am confident the Company will thrive in the future. I look forward to continuing to guide the Company through this transition period and supporting my successor as they lead the company into the next stage of growth.”
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