- Prachi Singh
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|
Ascena Retail Group, Inc. has announced the resignation of two of its
board members, Steven Kirshenbaum and Marc Lasry, effective June 30, 2019.
The company said that its board has approved a reduction in the size of the
board from 12 to 10 directors, effective as of that date.
Commenting on the development, Carrie Teffner, Interim Executive Chair
of Ascena Retail Group, said in a statement: “The reduction in the size of
the board is consistent with our decision to focus on a portfolio with
fewer brands and to right-size the corporate overhead structure.”
According to the company’s website, Kirshenbaum is a senior partner in
the corporate department of Proskauer Rose LLP, an international law firm
with headquarters in New York City. Kirshenbaum has served as a member of
Proskauer’s executive committee, a chair of the firm’s corporate department
and managing partner of Proskauer’s Paris Office. Lasry had re-joined
Ascena’s board in June 2017, having previously served as a member of the
board from February 2004 until October 2006. Since 1995, Lasry has served
as chairman, CEO and co-founder of Avenue Capital Group, a global
investment firm.
