Chico’s FAS Names Walmart Executive Shelley Broader as New CEO

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Shelley Broader

Shelley Broader

Fort Myers, FL—A top Walmart executive will soon be chief executive at Chico’s FAS. The women’s specialty retailer said Wednesday that Shelley Broader, who has more than 25 years of experience at Walmart and other retailers, will succeed present CEO David F. Dyer.

Broader has been chief executive of Walmart’s Europe, Middle East and Africa region. Before that job, she headed Walmart’s Canada division. She joined the company in 2010.

Before Walmart, Broader was chief operating officer of arts and crafts retailer Michael’s Stores. Prior to that she worked 17 years at Belgium-based Delhaize Group.

Meanwhile, Dyer will become vice chairman of the Chico’s board of directors.

Broader assumes the helm of Chico’s after a tumultuous year. Earlier, Sycamore Partners, the private equity group, announced it intended to mount a takeover at Chico’s but failed to get enough financing for the deal on acceptable terms, according to the Wall Street Journal.

Earlier this year, Sycamore Partners abandoned its pursuit of Chico’s after failing to line up financing for the deal on acceptable terms, a person familiar with the matter told The Wall Street Journal. Since then Chico’s FAS revealed plans to cut capital spending, speed up store closures and eliminate some positions.

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