Cost Plus Names New Non-Exec Chairman

July 7, 2011  by in UnCategorized   

By Home Furnishings Business in Executive Changes on July 8, 2011 Cost Plus, Inc. (NASDAQ: CPWM) has named Kenneth T. Stevens to succeed Joseph H. Coulombe as non-executive chairman.

In March 2005, the retailer's board instituted a process under which the office of the non-executive chairman would rotate amongst its members.

"On behalf of the entire board, we would like to thank Joe for his excellent service as the non-executive chairman during a pivotal year in which the company successfully completed its turnaround and returned to profitability," said Barry Feld, president and CEO. "We are pleased that Joe will remain on the board and continue to provide his insight and guidance."

Stevens joined the board of directors in 2008. He held executive positions at philosophy, Inc., a skin care and beauty company; Tween Brands, Inc., a publicly traded retailer; and Limited Brands, Inc. Prior to 2002, Stevens held senior leadership positions at several public and private companies.

"As the former chief executive oficer of a cosmetics company, Ken has first hand experience with the challenges that retailers face," Feld said. "In addition, his extensive executive management experience and his board service with both public and private companies provides the leadership, business judgment and consensus building skills necessary to effectively lead our board of directors as non-executive chairman."

Cost Plus operates 259 stores in 30 states.