Kirkland's Announces Two New Board Members

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Jun 08, 2016, 04:05 ET

NASHVILLE, Tenn., June 8, 2016 /PRNewswire/ -- Kirkland's, Inc. (NASDAQ: KIRK) today announced that its shareholders elected Susan S. Lanigan and Charlie Pleas, III to three-year terms to the Company's board of directors at its recent annual shareholder meeting. Ms. Lanigan and Mr. Pleas took the place of Ralph T. Parks, director since 2004, and Murray Spain, a director since 2001. Messrs. Parks and Spain had previously informed Kirkland's that they intended to retire from the board and would not stand for re-election.

Mike Madden, President and Chief Executive Officer of Kirkland's, commented, "We are excited that Susan Lanigan and Charlie Pleas have been elected to our board. Their substantial experience with large, high-growth retailers, together with their unique legal and financial perspectives, should prove valuable to Kirkland's as we execute on our growth strategy and expand our brand presence."

Ms. Lanigan is the Executive Vice President and General Counsel of Chico's FAS, Inc., a retailer of women's clothing. In addition, she also currently serves as the Chair of the Tennessee Education Lottery Commission, a position to which she was appointed by the Governor of the State of Tennessee in 2014. Previously, she served as Executive Vice President of Dollar General Corporation, a Fortune 200 company and, at the time, the largest discount retailer in the United States by number of stores. Ms. Lanigan joined Dollar General in 2002, as Vice President, General Counsel and Corporate Secretary, and was promoted to Executive Vice President, General Counsel, and member of the senior executive management team in 2006. Prior to that time, she was Senior Vice President and General Counsel of Zale Corporation, a retailer of jewelry.

Mr. Pleas is the Senior Vice President and Controller of AutoZone, Inc., a retailer of automotive parts and accessories, a position he has held since 2007. Prior to that, he was Vice President and Controller since 2003, and was in other roles at AutoZone since 1996. Prior to joining AutoZone, Mr. Pleas was a Division Controller with Malone & Hyde, one of the Fleming Companies, Inc. where he served in various capacities since 1988. Mr. Pleas worked with Ernst & Young prior to joining Malone & Hyde. Mr. Pleas qualifies as an "audit committee financial expert" as defined in the Sarbanes-Oxley Act.

Mr. Madden also addressed the departure of Directors Parks and Spain. Mr. Madden said, "On behalf of the entire Board, we thank Ralph and Murray for their leadership and contributions during their time on the Board. In addition to providing valuable strategic guidance to the Company during times of significant growth and transition, both contributed as active members of board committees. We wish Ralph and Murray all the best in their retirements and would like to thank them for their many years of commitment and service to our Company."

About Kirkland's, Inc.

Kirkland's, Inc. was founded in 1966 and is a specialty retailer of home décor in the United States. Although originally focused in the Southeast, the Company has grown beyond that region and currently operates 381 stores in 35 states. The Company's stores present a broad selection of distinctive merchandise, including framed art, mirrors, candles, lamps, picture frames, accent rugs, garden accessories and artificial floral products. The Company's stores also offer an extensive assortment of gifts, as well as seasonal merchandise. More information can be found at www.kirklands.com.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Kirkland's actual results to differ materially from forecasted results. Those risks and uncertainties include, among other things, the competitive environment in the home décor industry in general and in Kirkland's specific market areas, inflation, fluctuations in cost and availability of products, interruptions in supply chain and distribution systems, the ability to control employment, and other operating costs, ability of suitable retail locations and other growth opportunities, disruptions in information technology systems including the potential for security breaches of Kirkland's or its customers' information, seasonal fluctuations in consumer spending, and economic conditions in general. Those and other risks are more fully described in Kirkland's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K filed on April 8, 2016. Kirkland's disclaims any obligation to update any such factors or to publicly announce results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.