Big Lots Appoints Two New Directors To Its Board After The Planned Retirement Of Existing Board Members

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Jul 02, 2018, 09:00 ET

COLUMBUS, Ohio, July 2, 2018 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today announced the appointment of two new Directors to its Board of Directors after the retirement of two long standing, valued Board members. Christopher McCormick and Sebastian DiGrande joined the Board effective June 30, 2018, filling the seats vacated by Philip Mallott and Russell Solt who have retired from the Board.

Commenting on the announcement, James R. Chambers, non-executive Chairman of the Board of Big Lots stated, "I would like to thank Phil and Russell for their leadership, support of our strategy, and many years of dedicated service. Phil has been a member of the Board since 2003 serving as non-executive Chairman from 2013 to 2017 and Audit Committee Chairman for 15 years. Russell also joined the Board in 2003 during which time he was instrumental in broadening our use of performance-based metrics in equity compensation plans."

Mr. Chambers continued, "On behalf of the entire Board, we are excited to welcome Chris and Sebastian to the Big Lots family. Each of these highly experienced leaders bring new perspectives surrounding the evolving retail landscape and how to attract and retain loyal customers. We are confident their insights and collaborative styles will mesh well with our highly diverse Board and our experienced, engaged leadership team."

Mr. McCormick is the former President and Chief Executive Officer of L.L. Bean. He joined the Company in 1983 and held a number of leadership positions in Advertising and Marketing, prior to his tenure as President and Chief Executive Officer from 2001 until March 2016. Mr. McCormick has been a member of the Board of Directors of Sun Life Financial since May 2017 and a member of the Board of Directors of Levi Strauss & Co. since April 2016. Mr. McCormick is a graduate of Fairfield University and completed Harvard Business School's Advanced Management Program.

Mr. DiGrande is the Executive Vice President of Strategy and Chief Customer Officer for Gap Inc where he leads the Company's strategy, consumer and market insights, customer data and analytics, digital and customer marketing, payments, loyalty, and franchise teams. Mr. DiGrande joined Gap Inc. in May 2016 after a 20 year career at The Boston Consulting Group where he was a Senior Partner and Managing Director. He was also a leader in BCG's Technology, Marketing and Digital Innovation efforts. Mr. DiGrande received an M.B.A. from the Wharton School at the University of Pennsylvania, and a B.S. in Electrical Engineering from the Georgia Institute of Technology.

About Big Lots, Inc.

Headquartered in Columbus, Ohio, Big Lots, Inc. (NYSE: BIG) is a community retailer operating 1,415 BIG LOTS stores in 47 states, dedicated to friendly service, trustworthy value, and affordable solutions in every season and category – furniture, food, décor, and more. We exist to serve everyone like family, providing a better shopping experience for our customers, valuing and developing our associates, and creating growth for our shareholders. Big Lots supports the communities it serves through the Big Lots Foundation, a charitable organization focused on four areas of need: hunger, housing, healthcare, and education. For more information about the Company, visit www.biglots.com.

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SOURCE Big Lots, Inc.