Ascena Retail Group began a search for a new CFO after its current EVP and CFO, Dirk Montgomery, resigned this week. As the company reviews potential new CFOs, Ascena board member and audit committee chair Randy Pearce, will have more involvement with the company’s finances.
Montgomery is expected to stay in his position until the fall, when he will move on to a Florida-based healthcare company, where he recently accepted an offer to be closer to his family.
“I believe that Dirk’s contributions, specifically with the development of our shared service model, the creation of our holding company structure, and the strengthening of our financial foundation, will serve his successor well and have created enduring value for our company and our shareholders,” Ascena president and CEO David Jaffe said, adding that the company was “disappointed” to be parting with Montgomery.
“I am pleased and grateful to have contributed to Ascena’s rapid strategic, operational and financial progress and for the strong ongoing relationships I’ve built with our management team and board of directors,” Montgomery said. “Ascena is a great organization with a clear vision, direction and a talented team that I am confident will achieve its long range goals.”