Dive Brief:
- Adding another new face to its executive leadership team, Rue21 has named Elisa Bannon-Jones as its new senior vice president and chief people officer. The retailer also expanded Michele Pascoe’s role from senior vice president and CFO to executive vice president and CFO, according to a Monday press release.
- Bannon-Jones has experience as chief people officer at GNC, Icahn Automotive Group and Frontier Communications. She also brings prior experience in retail field leadership roles, per the press release.
- In Pascoe’s expanded role as CFO, she will now manage the company’s legal operations. She has been with Rue21 for five years, according to the announcement.
Dive Insight:
Rue21 has brought several new executives to its C-suite in the past year. In March, the company hired Josh Burris as its new CEO, bringing with him prior experience at companies like DKNY, Calvin Klein Performance and Abercrombie & Fitch. The teen clothing retailer appointed Karlyn Mattson, another GNC veteran, as its chief customer officer over the summer, a role she took after spending 25 years at retailers like Macy’s, Amazon and Target. It later named Scott Saeger as its new chief information officer, according to a September press release.
“These appointments reflect our commitment to assembling a best-in-class leadership team. Elisa’s track record of success will be critical to our efforts to attract, develop, and retain top talent,” Burris said in a statement regarding Bannon-Jones and Pascoe. “Elisa joining, combined with Michele’s strategic financial leadership, will undoubtedly help continue the positive momentum in our business.”
Last year, the company was reportedly weighing a bankruptcy filing after a drop in earnings. According to The Wall Street Journal’s Pro Bankruptcy publication, the company enlisted advising firm Ducera Partners to evaluate a possible bankruptcy or fundraising. Shortly thereafter, Rue21 announced it had reached a deal with lenders to address its working capital needs and “preserve continuity for the company’s vendors and suppliers.”
