ROSS STORES, INC. (NASDAQ:ROST) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02(b).
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On January 7, 2019, Ross Stores, Inc. (the “Company”) and James S. Fassio, the Company’s President and Chief Development Officer (“CDO”), entered into a further amendment (the “Amendment”) to Mr. Fassio’s Executive Employment Agreement dated November 19, 2015 (as previously amended on March 20, 2017), setting forth revised terms and timing relating to his planned retirement.
The Amendment extends the previous dates of employment, and contemplates that Mr. Fassio will continue to serve in his current position as President and CDO through January 31, 2020, and then cease to serve in that position and transition to the position of Senior Advisor from February 1, 2020 through March 31, 2021.
About ROSS STORES, INC. (NASDAQ:ROST)
Ross Stores, Inc. is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company and its subsidiaries operate two brands of off-price retail apparel and home fashion stores: Ross Dress for Less (Ross) and dd’s DISCOUNTS. Ross is an off-price apparel and home fashion chain in the United States, with approximately 1,274 locations in over 34 states, the District of Columbia and Guam. Ross’ target customers are primarily from middle income households. The Company operates approximately 172 dd’s DISCOUNTS stores in over 15 states. Both Ross and dd’s DISCOUNTS brands target value-conscious women and men between the ages of 18 and 54. The Company owns and operates approximately six distribution processing facilities, including three in California, one in Pennsylvania, and two in South Carolina.
