Charming Shoppes CEO Bern Steps Down

by Darren

Dorrit J. Bern has stepped down as CEO of Charming Shoppes (NASDAQ:CHRS). Chairman of the Board Alan Rosskamm made the announcement and further stated he’ll be stepping in as interim CEO.

“Dorrit and the board agreed that now is the appropriate time for a change in leadership of the company,” said Rosskamm in a prepared statement. “Her leadership resulted in the repositioning of Charming Shoppes as a multi-brand, multi-channel specialty apparel retailer, and the nation’s leader in women’s specialty plus apparel.”

Dorrit J. Bern is out as CEO of Charming Shoppes

Dorrit Bern had been with the company since 1995.

Dorrit J. Bern joined Charming Shoppes, Inc. on August 23, 1995 as President, Chief Executive Officer, and Vice Chairman of the Board of Directors. Distinguishing herself immediately as a visionary leader, Ms. Bern formulated a new business strategy to maximize the Company’s opportunities. In February 1997, Ms. Bern was elected as Chairman of the Board. Since 1995, Ms. Bern and her team have repositioned the entire infrastructure of Charming Shoppes, Inc., built a strong financial foundation, and improved profitability. In 2005, Ms. Bern celebrated her 10-year career as the leader and CEO of Charming Shoppes, Inc. During her tenure, the Company’s revenues have tripled, from $1 billion in 1995, to more than $3 billion at the end of 2006.

Shares of the company have already risen slightly on the news.

Bern wrote that she agreed with the decision. “We believe getting some fresh perspective could drive improved results,” she wrote. “The board has clearly been pushing for change and a new CEO could preside over a shift in the strategic direction and make different capital allocation decisions with the help of the recently reconstructed board.”