David Jaffe Financo Forum 2016

David Jaffe, president and chief executive officer of the Ascena Retail Group, has added the title of chairman.

He succeeds his father and cofounder of the company, Elliot S. Jaffe, who has become chairman emeritus. Elliot S. Jaffe retired as non-executive chairman of the board of directors at the end of the 2016 annual shareholders meeting.

Elliot Jaffe cofounded Dressbarn in 1962 and served as ceo until 2002. He was Ascena’s chairman until January 2011, when he transitioned to non-executive chairman.

“David’s extensive retail and financial background, including nearly 25 years of leadership at Ascena, makes him uniquely qualified to assume the role of chairman of the board,” said Randy Pearce, Ascena’s lead independent director.

David Jaffe added, “I am deeply honored and humbled to take on this additional responsibility. I am excited to carry forward EJ’s passion and commitment to Ascena as we continue to grow.”

Ascena operates Ann Taylor, Loft, Lou & Grey, Maurices, Dressbarn, Lane Bryant, Catherines and Justice, as well as e-commerce websites. The company has approximately 4,900 stores throughout the U.S., Canada and Puerto Rico.