Ross Stores makes changes to board of directors

Ross Stores has announced a number of changes to its board of directors, namely that of its chairman, George Orban’s, exit from the role.

Orban will instead continue on as an independent director, a move he cited was linked to “personal reasons”, as noted in his press release statement. Orban added that he planned to stay “actively involved in the business” when assuming this new position.

Next to this, Michael Balmuth, the current strategic advisor to the company, will return to the role of executive chairman of the board.

Balmuth had previously served in the position of chairman of the board from 2014 to 2021, and was executive chairman until 2019 before transitioning to the advisory role.

On the change, Balmuth said: “I look forward to partnering in my new role with the talented and experienced executives on our board and throughout the entire company.

“I am confident that together we will continue to maximise our opportunities for growth and profitability over the coming years.”

In addition, K. Gunnar Bjorklund is to become lead independent director, a role for which he brings a long-standing experience in consultancy and strategic planning to, having previously held the position of director, strategic planning for American Express Company.