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Weiss to retire as Express CEO in January
Michael Weiss, who led Express from its early days as an eight-store experiment, will retire as CEO of the Columbus-based fashion retailer on Jan.
30, the company announced yesterday.
Weiss will remain with the company as nonexecutive chairman of the board.
President David Kornberg, 46, will add the title of CEO.
The announcement comes a month after the New York-based private-equity firm Sycamore Partners said it plans to buy Express.
Express has struggled recently: After a disappointing first-quarter earnings report, Express announced it would close about 50 of its more than 600 stores and said its second-quarter outlook was dismal, too.
But Express officials pointed to another reason for the retirement: Weiss, 73, thought it was time for someone younger to handle day-to-day leadership duties.
“There is an ability to move on with the business,” said Marisa Jacobs, vice president of investor relations.
One local retail observer sai