Rue21 revamps its executive team 1 month after emerging from bankruptcy

r21 Holdings, Inc. ("rue21") announced on Wednesday the formation of its reorganized Board of Directors and has named Michael Appel Chairman and Interim Chief Executive Officer.

As of this week, Appel is assuming responsibilities from Melanie Cox, Interim Chief Executive Officer since April 2017, who is resigning upon the completion of the successful restructuring of the company.

Appel brings a wealth of experience in the apparel world, having held increasing responsibilities in department stores such as Bloomingdale's and Fortunoff, off-price (Loehmann's) and multi- unit specialty retail (Laura Ashley, Lane Bryant, Caswell Massey, Wilkes Bashford, MacKenzie Childs, and Baccarat).

"This is a very impressive group of directors-- one that any major retailer would be proud to have provided leadership and direction. With experience in all facets of retailing, I feel confident that they will help us to position rue21 for our next chapter of growth and expansion," said Appel on the announcement.

On a related note, the Board has initiated a national search for a permanent CEO.

The struggling retailer exited from Chapter 11 bankruptcy protection on September, 22. The announcement follows several months of work on financial restructuring since rue21 filed for voluntary reorganization on May, 15.

Its restructuring plan was approved September, 11 by U.S. Bankruptcy Court for Western Pennsylvania in Pittsburgh. It has 758 stores in 45 states.