Christopher & Banks Corp. (Minneapolis) has announced the resignation of chairman and ceo Bill Prange. While his resignation is effective immediately, Prange has agreed to remain available to work with the company in an advisory capacity.
Prange said, “I regret that my health no longer allows me to make the substantial commitments of time and travel that I feel are needed for me to continue as ceo of the company.
Larry Barenbaum, a director of the company since 1992, and currently the lead director, will become chairman. The board has also named Joseph Pennington as ceo and Matthew Dillon as president and chief merchandising officer. Pennington has been president of the company since 1999. He previously served as president and ceo of American Specialty Stores, a privately held women's apparel chain doing business as The id Stores.
Christopher & Banks operates 707 women's specialty stores in 45 states under the names Christopher & Banks, C.J. Banks and Acorn.