Christopher & Banks Extends Deal with Execs

Minneapolis, Christopher & Banks Corp. on Monday said it has extended the contracts of two outgoing executives. Joseph Pennington, 59, president and COO, has agreed to extend his employment contract with the women’s clothing chain through Aug. 31, 2006. He will then stay on as a part-time employee in an advisory role through Feb. 28, 2007.

Christopher & Banks also said Ralph Neal, executive VP of store operations, has agreed to extend his contract through April 30, 2006. He will continue to work with the company on a part-time basis through Feb. 28, 2007.

Pennington and Neal will both work closely with Christopher & Banks to transition their responsibilities, the company said.