Torrid announces new CEO, changes to leadership team
Plus-size retail chain Torrid announced on Tuesday changes to its senior leadership team and board of directors, including the appointment of Liz Muñoz to a new role as chief creative officer.
In this new role, Muñoz will focus on product, design, product development, fabrication, sourcing, technical fit, creative marketing, and merchandising with the aim to accelerate the company’s growth trajectory.
Muñoz has served as Torrid’s CEO since August 2018. She previously served as Torrid’s president and before that as senior vice president of product.
“Liz has done a terrific job leading Torrid, including playing an important role in the company’s successful initial public offering in 2021,” said Stefan Kaluzny, chairman of Torrid’s board of directors. “Liz is driven by her passion for product and Torrid’s customer, and we are thrilled to have her assume this critical new role at the company.”
In turn, retail industry veteran Lisa Harper has been named as Muñoz’s successor as chief executive officer. Harper previously served as CEO of Belk, Hot Topic and Gymboree, among other leadership roles in the retail industry. In addition to serving as CEO, she will remain a member of the Torrid Board of Directors, where she has served as a member since 2008.
“Lisa brings tremendous direct-to-consumer experience to her new role at Torrid,” added Kaluzny. “Together Lisa and Liz will focus on driving strategic growth and value for all stakeholders. Liz’s focus on product and the customer combined with Lisa’s operational expertise create an outstanding team.”
Moreover, as previously announced, George Wehlitz retired from his role as CFO at the end of the first quarter of fiscal 2022 and is now serving as an advisor to ensure a smooth transition. In interim, Tanner MacDiarmid will serve as interim chief financial officer. His experience includes leadership roles as partner at Meru, senior vice president at McKinsey & Company, and senior director at Alvarez & Marsal.
Likewise, Chinwe Abaelu, senior vice president, chief accounting officer, will serve as principal financial officer from now until a new CFO joins Torrid.
In conjunction with these organizational changes, Torrid also announced that Michael Shaffer, former CFO of PVH Corp., has joined the board of directors as an independent member and chair of the audit committee.
He will serve alongside Theo Killion, the lead independent director, and Valeria Rico, also an independent director. Shaffer retired in September 2021 after serving 31 years with PVH in various leadership roles including CFO and chief operating officer.
All the appointments are effective immediately.
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