Michael Calbert, chairman of the board of Dollar General Corp., will join PVH Corp.’s board of directors, effective May 2.
The company also said Henry Nasella, its non-executive chair, will not stand for reelection at its June 16 annual stockholders’ meeting. Both changes are part of the board’s previously disclosed refreshment process.
Nasella had served on the PVH board for 19 years, including as a presiding director since 2007 and chair since 2021 when it first became an independent, non-executive role. Nasella had been nominated to serve for his last three terms by virtue of a waiver of the board’s mandatory retirement age, as permitted under its corporate Governance Guidelines. Calbert is expected to succeed Nasella as chair if he is reelected at the annual meeting.
Calbert has been chairman of Dollar General since 2016 and earlier was a member of the private equity firm KKR & Co. L.P., where he led the retail industry team from January 2000 until his retirement in 2014. He was previously chief financial officer of Randall’s Food Markets and started his career as a certified public accountant with Arthur Anderson Worldwide. His experience includes corporate finance and strategic business planning and accounting, particularly in the retail industry, as well as a director of public traded retail companies.
“We are excited to welcome Michael to the board of PVH,” said Stefan Larsson , chief executive officer of PVH. “He is a highly experienced public company director with extensive chair experience, and he brings deep expertise in the retail and consumer sectors. His contributions will be invaluable as we, under the board’s guidance, build the next growth chapter for PVH. We remain focused on positioning PVH to win in the ‘new normal’ powered by our two iconic global brands, Calvin Klein and Tommy Hilfiger.”
Calbert said, “I’m honored to be joining the board of PVH at this exciting time for the company and the industry. I look forward to working with my fellow board members in supporting Stefan and the management team to realize the company’s long-term growth opportunities, deliver strong stockholder returns, and do it in a way that stays true to PVH’s purpose to drive fashion forward for good.”
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