Barbara Rentler will stay on as CEO of Ross through Jan. 31, 2026, as part of a long-term succession plan. By that date, the company’s board expects to have selected her successor.
The retailer on Tuesday announced a new employment agreement with Rentler, which will extend through March 31, 2027. Following the end of her term as CEO, Rentler will remain with the company as a senior adviser.
Rentler has been with Ross since 1986 and served in a variety of roles, including chief merchandising officer. She was named CEO and a member of the board of directors in 2014.
“As CEO, [Rentler] has provided the vision and leadership to navigate the company successfully through both favorable and more challenging external landscapes with a focus on maximizing our opportunities for growth and profitability,” George Orban, board chairman, said in a statement. “This long-term succession plan will enable us to continue to benefit from Barbara’s more than three decades of leadership at Ross, while supporting a smooth transition to a new CEO.”
In its latest earnings, Ross reported total sales of $4.5 billion, up 3.7% year over year, while comparable sales were up 1%.
On a call with analysts regarding Q1 results, Rentler said that the company expected fiscal 2023 to be challenging due to uncertainty in the macroeconomic, geopolitical and retail environment.
“As a result of today's uncertain external landscape, especially the prolonged inflationary pressures negatively impacting our customers' discretionary spend, shoppers are seeking even stronger values when visiting our stores. In response, we remain focused on delivering the most compelling bargains possible while diligently managing expenses and inventory to maximize our opportunities for growth,” Rentler said.
Ross is continuing its plan to open 100 new stores this year, she said, consisting of 75 Ross stores and 25 DD’s Discounts.
