July 18, 2019 / 8:45 PM / 4 months ago

UPDATE 1-Chico's FAS names Bonnie Brooks as new CEO

(Adds details on appointments, background)

July 18 (Reuters) - U.S. women’s apparel retailer Chico’s FAS Inc said on Thursday it has named Bonnie Brooks as it new chief executive officer and president.

In April, Chico’s said Brooks had been named interim CEO, following the abrupt resignation of Shelley Broader from her roles as chief executive and president of the company.

Brooks was previously the CEO at Hudson’s Bay Co and has been a member of the Chico’s board since 2016. She will remain as a member of the board.

Chico’s also named Molly Langenstein as president of its apparel group, effective Aug. 1.

Langenstein joins from Macy’s Inc, and will oversee the Chico’s and White House Black Market brands.

Chico’s has been offered to be bought out by private equity Sycamore Partners LP, but has rejected an offer from the firm thrice.

The retailer last month rejected an offer of $3 per share in cash, saying it substantially undervalued the company. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Shounak Dasgupta)

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