NEW YORK – Barry Gluck, executive vice president of merchandising, marketing and planning and allocation at Ross Stores, is expected to retire on or before March 1, 2007.
In a filing with the Securities and Exchange Commission Friday, the Pleasonton, Calif.-based company said that it had entered into an agreement with Gluck by which he will retire on March 1 or on an earlier date, should one be determined by the company’s chief executive officer, Michael Balmuth, with at least 30 days notice.
Following his retirement, he will serve as an independent consultant to the firm for up to two days a week until Feb. 29, 2008. He will be compensated at an adjusted rate corresponding to his current annual salary of $600,000. He will be eligible for his full bonus during the current fiscal year.
Additionally Gluck and any eligible dependents will have health care coverage paid by Ross for a period of five years following his retirement date.
Gluck joined Ross in 1993 as senior vice president and general merchandise manager and was promoted to his most recent post in February 2005. Earlier in his career, he held management posts with Today’s Man, Macy’s and Dayton Hudson Corp. He was 53 when Ross filed its last annual report with the SEC on April 12.