David’s Bridal chief executive officer and president Pamela Wallack has exited the retailer and been succeeded in the role by Paul Pressler, who currently serves as chairman. Wallack had been with the company since May 2013.
The company said in a statement, “After three years of dedicated service, Pam Wallack has stepped down as chief executive officer at David’s Bridal. We thank Pam for her leadership and are grateful for the many contributions she brought to the company.”
A former employee associated with David’s Bridal said the company ran into problems when it went from a cash-and-carry model with modestly priced dresses to a high-end store. After losing ceo Robert Huth, the company saw many of its knowledgeable employees leave as well.
“The priority at David’s Bridal is our customer and her bridal journey — our immediate goal is to strengthen her experience with our brand at every turn. Paul Pressler will now serve as ceo and president of the company. Paul previously held president and ceo positions at Disney and Gap Inc., and he brings with him an extensive background in retail and a deep understanding of the brand, our customers and what it will take to continue to make David’s Bridal the ultimate destination for brides.”
Pressler came to David’s Bridal when the private equity firm Clayton, Dubilier & Rice acquired the retailer for $1 billion in 2012. Pressler was an operating partner at CD&R.
Wallack’s goal was to change the company from being the “Wal-Mart of bridal,” as she called it in a 2015 interview with Racked.com. Having said that, two out of three brides at David’s Bridal spend less than $600 on a dress. Wallack’s background was from GapKids, Baby Gap and Gap Maternity and she had some bridal experience from the Eighties with Laura Ashley. One person with inside information of David’s Bridal said the company had struggled under her tutelage.