Nine months after Claire’s Stores exited bankruptcy by eliminating nearly $2 billion in debt, the teen jewelry and accessories retailer has named former Party City President Ryan Vero as its new CEO.
Since 2016 at Party City, Vero oversaw nearly 1,000 retail stores in North America and Europe, as well as the retailer’s e-Commerce operations. Previously, he served in executive leadership roles at Sears from 2012 to 2016 and OfficeMax from 1994 to 2011, where he spearheaded key consumer business lines, as well as e-Commerce, marketing and merchandising operations.
Vero replaces Kevin Corning, who has served as interim CEO of Claire’s since March. Corning has been a member of the Claire’s Board of Directors since October 2018 and will support Vero’s transition into the role.
Corning took over for Ron Marshall, the CEO since May 2016. Marshall guided the retailer through its Chapter 11 bankruptcy proceedings and financial restructuring, which included a $575 million lifeline in cash. But Marshall stepped down from the post in March.
As of May 2019, Claire’s operated 2,421 stores in 17 countries throughout North America and Europe, not counting the retailer’s 6,794 concession locations in other areas.