OLLI - Ollie's Bargain Outlet Announces Executive Promotions and Appointments as Part of Anticipated Leadership Succession | Benzinga
John Swygert to Transition to Executive Chairman in Early 2025
Eric van der Valk Promoted to President and Will Become CEO in Early 2025
Robert Helm Promoted to Executive Vice President
Chris Zender Appointed to Executive Vice President and Chief Operating Officer
HARRISBURG, Pa., June 05, 2024 (GLOBE NEWSWIRE) -- Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) ("Ollie's" or the "Company") today announced a number of executive promotions, appointments, and anticipated changes as part of the Company's succession plan, including:
- The transition of John Swygert to Executive Chairman in early 2025
- The promotion of Eric van der Valk to the role of President, effective immediately, and to Chief Executive Officer in early 2025
- The promotion of Robert Helm to Executive Vice President, effective immediately
- The hiring and appointment of Chris Zender as Executive Vice President and Chief Operating Officer, effective June 17, 2024
On behalf of Ollie's Board of Directors, Richard Zannino, lead independent director said, "John is having an amazing run with Ollie's. In his twenty plus years with the Company, he has helped Ollie's grow from a 28-store chain with $100 million of annual revenue to America's largest and most profitable closeout retailer with over $2 billion in annual revenues and 518 stores in 30 states. The announced changes are the culmination of John's interest in transitioning to the Executive Chairman role and a rigorous succession planning process conducted by the board."
Mr. Zannino continued, "Since joining Ollie's, Eric has played a pivotal role executing the Company's growth plans, including leading transformational change across the organization that has driven improved execution and operating efficiencies. He has fully demonstrated both his leadership capabilities and his cultural embodiment of the Ollie's way, making him the ideal candidate to succeed John as CEO, as John fulfills his desire to move up to Executive Chairman. We are confident the succession plan announced today will enable a seamless ...