MGF Sourcing Announces Executive Leadership Changes

Michael Yee promoted to Chief Executive Officer

Jim Schwartz to become Executive Chairman

Jennie Wilson promoted to President and Chief Operating Officer

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Oct 08, 2021, 09:00 ET

COLUMBUS, Ohio, Oct. 8, 2021 /PRNewswire/ -- MGF Sourcing (the "Company"), one of the largest apparel sourcing, manufacturing and supply chain companies in the world, today announced that Michael Yee, President of MGF Sourcing Asia, will become Chief Executive Officer of the Company effective February 1, 2022. Mr. Yee will succeed James Schwartz who will assume the newly created role of Executive Chairman at that time. The Company also announced the promotion of Jennie Wilson, Chief Administrative Officer, to President and Chief Operating Officer, also effective February 1, 2022.

"Michael is well positioned to take MGF into its next phase of growth and prosperity," said Mr. Schwartz. "Not only has he developed incredible relationships with our vendor community and retail partners, but he has also been critical to leading MGF and our associates through the challenges of the pandemic that have significantly impacted our industry."

Mr. Yee joined MGF Sourcing as President of MGF Asia in November 2019 from GAP Inc. where he was President and CEO of Greater China Retail and EVP of Global Sourcing and Production. Prior to that, he served in various leadership roles with Accenture, Liz Claiborne, and Kurt Salmon. As CEO of MGF Sourcing, Mr. Yee will continue to be based in Hong Kong.

Adds Mr. Yee, "I am humbled by the opportunity to be the CEO of MGF Sourcing, a company with deep roots and a history of success that is the culmination of our incredibly talented people and loyal customers. I would like to thank Jim and all the associates of MGF for their support. It is an honor to lead the business into the future."

Mr. Schwartz has been in the industry for nearly 43 years and has served as CEO of MGF Sourcing since it was acquired from L Brands in 2011 and was with its predecessor company, Mast Global Fashions, beginning in 1983. Under his leadership, MGF has grown to a fully standalone business sourcing over a billion dollars of goods annually serving many of the best brands in retail. As Executive Chairman, Mr. Schwartz will also serve as a business advisor to Mr. Yee and Ms. Wilson on key strategic initiatives.

"It has been an honor and a privilege to work with the team at MGF and with our brand partners and supplier community," said Mr. Schwartz. "I look forward to continuing to work with the Company in my new role and am confident that MGF will thrive under Michael's and Jennie's leadership."

Ms. Wilson has been with MGF since 2012, first as Chief Financial Officer and more recently as Chief Administrative Officer. Prior to MGF, she served in senior finance roles with DSW, L Brands, and Dunkin' Brands.

"Jennie has been here since the beginning and led the creation of the infrastructure to support this business from the ground up, including Technology, Finance, and Logistics," said Mr. Schwartz. "She has been instrumental to MGF's success and will continue to partner closely with Michael in guiding MGF in its next chapter of growth."

About MGF Sourcing

MGF Sourcing is an independent global sourcing company with a specialization in apparel and accessories. With more than forty years of experience, they have developed a strong track record as an agile and trustworthy partner. Headquartered in Columbus, Ohio, the company maintains offices in China, Hong Kong, Indonesia, Korea, India, Bangladesh, Sri Lanka, Vietnam, and the United States. Our global team collaborates across categories and borders, supporting innovation and increasing flexibility and speed to market for our customers through our ability to provide design, distribution, production oversight, and other manufacture management services.

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