Express Names Stewart Glendinning As CEO

(RTTNews) - Fashion apparel retailer Express, Inc. (EXPR) Thursday announced that Stewart Glendinning has been appointed Chief Executive Officer, effective September 15.

Glendinning succeeds Tim Baxter, who has resigned as Chief Executive Officer and as a member of the Board.

Glendinning most recently served as Group President, Prepared Foods of Tyson Foods, Inc. In this role, he managed all aspects of the Prepared Foods portfolio, including renowned brands Jimmy Dean, Hillshire Farm and Ball Park.

"The Express Board is confident that Stewart is the right person to reinvigorate performance and build the strongest possible foundation on which Express can succeed," said Mylle Mangum, Chairman of the Express Board. "He is a highly accomplished executive who will bring fresh thinking to the Company and our strategies for profitable growth. Stewart shares the Board's belief that further operating improvements and greater financial discipline are needed to ensure that Express is best positioned to deliver significant, sustainable shareholder value."

Further, the company added that Baxter's resignation is unrelated to the company's accounting or financial reporting. The company reaffirms its guidance previously announced on September 6.