Pier 1 Appoints Retail Technology Leader Lance Wills as EVP, Chief Information Officer
04 Fevereiro 2019 - 7:15PM
Business Wire
Pier 1 Imports, Inc. (NYSE:PIR) today announced that it has
appointed Lance Wills as Executive Vice President, Chief
Information Officer, effective immediately. Mr. Wills joins Pier 1
with almost 23 years of information technology experience,
including more than 10 years at companies in the retail sector
where he was responsible for managing omni-channel platforms,
supporting business transformations, building digital expertise and
enhancing the customer journey.
“We are delighted to welcome Lance to the Pier 1 leadership
team,” said Cheryl Bachelder, Interim CEO. “As we continue to
narrow our strategic focus and employ a more customer-centric
mindset across the company, we are committed to building upon our
existing technology platform and increasingly capitalizing on data
insights to help drive our business and customer initiatives
forward. Lance brings the leadership, expertise and track record of
execution we need to support multi-channel customer experiences as
we strive to restore sales growth and improve profitability.”
Most recently, Mr. Wills served as Executive Vice President,
Global Technology Officer for Toys”R”Us, Inc. from 2016 to 2018.
Prior to that, he spent three years with American Eagle (NYSE:AEO)
as Vice President, Global Head of Digital Technology from 2013 to
2016, and six years with Macy’s, Inc. (NYSE:M) as Vice President,
Digital Technology. Earlier in his career, Mr. Wills served in
various roles for Thomson Reuters, including Executive Director of
Software Engineering and Technology Strategy Consultant. He holds a
B.S. in Information Systems from the Central Institute of
Technology in New Zealand.
Mr. Wills stated, “I am excited about joining Pier 1, and look
forward to leveraging my experience to drive innovation and change,
while creating value for our customers as well as a better
experience for our associates.”
On February 4, 2019, pursuant to the terms of his employment,
Mr. Wills received a one-time award of restricted stock having a
value of $200,000. The award consists of 263,157 shares, based on
the 30-day trailing average of the closing price of Pier 1
Imports, Inc. common stock as of February 4, 2019. The
shares will vest in equal annual installments on the first, second
and third anniversaries of the grant date, subject to Mr. Wills’
continued employment with the Company. These shares have been
granted in reliance on the employment inducement exception to
shareholder approval provided under New York Stock
Exchange Listing Rule 303A.08.
Financial Disclosure Advisory
Except for historical information contained herein, the
statements in this press release or otherwise made by our
management in connection with the subject matter of this press
release are forward-looking statements (as such term is defined in
the Private Securities Litigation Reform Act of 1995) and involve
risks and uncertainties and are subject to change based on various
important factors. This press release includes forward-looking
statements that are based on management’s current estimates or
expectations of future events or future results. These statements
are not historical in nature and can generally be identified by
such words as “believe,” “expect,” “estimate,” “anticipate,”
“plan,” “may,” “will,” “intend” and similar expressions.
Management’s expectations and assumptions regarding future results
are subject to risks, uncertainties and other factors that could
cause actual results to differ materially from the anticipated
results or other expectations expressed in the forward-looking
statements included in this press release. These risks and
uncertainties include, but are not limited to: the impact of
initiatives implemented in connection with the Company’s multi-year
“New Day” strategic plan, particularly with respect to changes in
the initiatives supporting the New Day plan and actions intended to
return the Company to profitable growth; the impact of initiatives
connected with the appointment of the Company's interim chief
executive officer; the results of the evaluation of strategic
alternatives and the terms, value and timing of any transaction
resulting from that process, or the failure of any such transaction
to occur; the effectiveness of the Company’s marketing campaigns,
merchandising and promotional strategies and customer databases;
consumer spending patterns; inventory levels and values; the
Company's ability to increase cash flows to support its operating
activities; the effectiveness of the Company's relationships with,
and operations of, its key suppliers; the Company’s ability to
implement planned cost control measures; risks related to U.S.
import policy, particularly with regard to the impact of tariffs on
goods imported from China and strategies undertaken to mitigate
such impact; and changes in foreign currency values relative to the
U.S. dollar; the Company's ability to identify a successor chief
executive officer and retain its senior management team; the
Company's ability to comply with the continued listing requirements
of the NYSE, and risks arising from the potential suspension of
trading of the Company's common stock on that exchange. These and
other factors that could cause results to differ materially from
those described in the forward-looking statements contained in this
press release can be found in the Company’s Annual Report on Form
10-K, its Quarterly Report on Form 10-Q for the period ended
December 1, 2018 and in other filings with the SEC. Refer to the
Company’s most recent SEC filings for any updates concerning these
and other risks and uncertainties that may affect the Company’s
operations and performance. Undue reliance should not be placed on
forward-looking statements, which are only current as of the date
they are made. The Company assumes no obligation to update or
revise its forward-looking statements.
About Pier 1
Founded with a single store in 1962, Pier 1 is a leading
omnichannel retailer of unique home décor and accessories. The
company’s products are available through more than 980 Pier 1
stores in the U.S. and Canada and online at pier1.com. For more
information or to find the nearest store, please visit
pier1.com.
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Investor Relations Contact:Christine GreanyThe Blueshirt
Group(858) 523-1732christine@blueshirtgroup.com
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