A 20-year Express veteran executive is stepping down.
The fashion apparel retailer said that Matthew Moellering will retire as president and COO, effective May 5, 2023. Express has hired an executive search firm to conduct an external search for his replacement.
Moellering joined Express in 2003 and went on to hold a series of leadership positions and was an instrumental member of the executive leadership team that took the Company public in May of 2010.
Moellering was appointed to his current position in September 2019. He served as interim CFO from October 2021 to March 2022 and interim CEO and president from January to June 2019.
Prior to joining the company, Moellering held leadership roles at Procter & Gamble from 1995 to 2003.
“Matt has been an exceptional leader who has made significant contributions over the last 20 years including being a key driver of the EXPRESSway Forward strategy and an integral part of our transformation,” said Tim Baxter, CEO, Express. “He has also been an invaluable thought partner to me over the last three years, offering the full breadth of his experience and perspective, and I appreciate his conviction for our corporate strategy and his commitment to ensuring a smooth transition for his successor.”
Earlier this year, Express entered into a joint venture with brand management firm WHP Global. Under the terms of the two-part agreement, WHP is investing $235 million for a 60% stake in an intellectual property joint venture, with 40% owned by Express. The deal will allow the retailer to accelerate its growth scale through licensing in non-core categories and international expansion.
Express and WHP also plan to launch an omnichannel platform to acquire, operate and grow multiple fashion brands.
“I have had an incredible experience over these last 20 years and especially enjoyed the last few years working with Tim to launch and advance the EXPRESSway Forward strategy, and with this executive leadership team to transform the Express brand and begin a bold new chapter that will transform the company,” stated Moellering. “I am confident that the new strategic partnership with WHP Global will create a bright future and position the company well moving forward.”
Express operates more than 550 retail and outlet stores in the United States and Puerto Rico.