NEW YORK – Neal Black, chief merchandising officer of Jos. A. Bank Clothiers, has been promoted to president of the Hampstead, Md.-based specialty store chain. He retains his duties as CMO.
Robert Wildrick, chief executive officer of the company, relinquishes the title of president and now adds the title of executive chairman of the company. Black continues to report to Wildrick.
The company said that Wildrick “will continue to be the liaison between the management of the company and the board of directors and have supervisory authority over all other officers of the company.”
Black had been chief merchant and executive vice president of merchandising and marketing for Jos. A. Bank since joining the company January 2000.
Andrew Giordano serves as chairman of JAB’s board and as its lead independent director.
Giordano commented, “Since taking over management of the company in late 1999, this team has increased sales over 180%; more than tripled the store base to 382 stores by opening over 270 new stores; significantly increased net income, which was just $1.4 million in 1999; increased market cap to more than $596 million; enhanced the brand awareness throughout the country and made dramatic improvement in the liquidity of the company. The Board views these management changes as another step in the evolution of the company as we look forward to continued growth.”