COLUMBUS, Ohio — Big Lots has named David Campisi as its new CEO and president. Campisi succeeds Steve Fishman, who announced in December 2012 his intention to retire upon the appointment of his successor.
Fishman will also step down from the board of directors immediately following the 2013 annual meeting of shareholders on May 30, at which time Campisi will be appointed as a director. The board also plans to elect a non-executive chairman of the board.
Campisi has more than 30 years of retail industry experience. He was most recently chairman and CEO of Respect Your Universe, a publicly traded company focused on premium performance apparel and equipment. Prior to RYU, Campisi was an executive with the multibillion dollar retailer the Sports Authority for nearly 7 years, rising to become chairman and CEO. Prior to the Sports Authority, he held executive-level merchandising roles at Kohl's, Fred Meyer and Meier and Frank Company.
"David Campisi is a seasoned retail executive with a track record of success in the industry," said Jeffrey P. Berger, chairman of the nominating and corporate governance committee and leader of the board's search committee. "The board was attracted to David's broad base of successful merchandising experience and his collaborative leadership skills. Both of these characteristics were key to the board's search and they are believed to be paramount as Big Lots enters its next phase of growth and evolution as a company."
"On behalf of the entire board of directors, I would like to thank Steve for his vision and passion for Big Lots over the past nearly eight years. Under Steve's leadership, the business has provided significant cash and returns to shareholders while elevating our brand and positioning in the marketplace. The board is confident Steve leaves the business with a well-established management team and a strategy to be successful. We know he will be watching closely our progress and we wish him all the best in his retirement," added Berger regarding Fishman.
"I have been impressed with the results and long-term returns which the management team has delivered for shareholders. Big Lots has a unique niche as the largest broadline closeout retailer in North America, and after spending time with the board of directors, I am excited about the opportunities to build upon what Steve and the team has created," said Campisi.