Destination Maternity Corp. announced Thursday its CEO Marla Ryan is stepping down from her role, effective immediately.
She will remain with the company to assist with the transition, the company said, and will assume a the new role as president of product design, sourcing and merchandising.
The Moorestown-based maternity retailer also announced it has appointed Gene Davis, current chairman and CEO at PIRINATE Consulting Group LLC, to its board of directors. Once he’s appointed, Davis will serve as chairman of the board.
The board has created an interim office of the CEO, Destination Maternity said, which will provide leadership and oversight of the day-to-day operations while the search for a new CEO is taking place. The office will be comprised of Lisa Gavales, a member of the board of directors; Ryan; and David Helkey, current chief financial officer and chief operating officer.
“As the company strives to improve its performance and deliver profitable growth, the Board of Directors unanimously determined that the Company would benefit from new leadership and enhanced execution. In addition to beginning an active and immediate search for a new permanent CEO, the Board will also conduct a comprehensive review of the Company’s strategic initiatives to ensure that the Company is pursuing an aggressive strategy to effect real and sizeable change in the business,Gavales, who will serve as chair of the office of the CEO, said.
“We would also like to thank Marla for her tireless efforts and dedication as CEO of Destination Maternity and we look forward to her continued contributions as she moves into her new role with the Company,” she said.
