Ed Krell, CEO of maternity apparel retailer Destination Maternity, is stepping down from his position and relinquishing his place on the company's board of directors. He will be replaced by Anthony Romano on both counts, effective immediately.
"After leading the team that significantly strengthened the company over the past six years as CEO, the board and I decided that this was a logical time for change in leadership at the company, and a logical time for me to pursue other opportunities," Krell said. "Destination Maternity has a bright future, and I wish Tony and the entire Destination Maternity team all the best as they continue to strengthen and grow the company."
Romano, 52, has held executive leadership positions with retailers such as Ascena Retail Group, Charming Shoppes, and ANN. Romano joined Charming Shoppes in 2009 and enjoyed a successful tenure as CEO and president of the company following its sale to Ascena Retail Group in May 2012. He acted as a member of Ascena's executive leadership group until March 2013.
"Tony brings to Destination Maternity both extensive knowledge of retail operations and a demonstrated ability to lead and influence the creative side of the business," said Arnaud Ajdler, chairman of the board, Destination Maternity. "His passion for understanding and connecting with customers will support our efforts to deliver exciting product assortments and excellent shopping experiences. We are confident that this unique combination of expertise and skills will help us grow both the top and bottom lines and deliver enhanced shareholder value." Press Release