US' Torrid announces changes to senior leadership team & BoD

In conjunction with these organisational changes, Torrid announced that Michael Shaffer, former CFO of PVH, has joined the board of directors as an independent member and chair of the audit committee. In connection with the transition to her new role, Muñoz has stepped down as a member of the Torrid board of directors. She previously served as Torrid’s president and before that as senior vice president of product. Muñoz graduated from the fashion institute of design and merchandising, the company said in a press release.

In addition to serving as CEO, Harper will remain a member of the Torrid board of directors. She has previously served as CEO of Belk, Hot Topic and Gymboree, among other leadership roles in the retail industry. George Wehlitz retired from his role as CFO at the end of the first quarter of fiscal 2022 and is now serving as an advisor to ensure a smooth transition. MacDiarmid will serve as interim chief financial officer until the company names a new chief financial officer. Chinwe Abaelu, senior vice president, chief accounting officer, will serve as principal financial officer from now until a new CFO joins Torrid.

MacDiarmid serves as a partner at Meru since April 2019, specialising in interim management for clients. He received a B.A. in Economics with a minor in Accounting from University of California at Los Angeles and is a Certified Public Accountant. Chinwe Abaelu has served as our senior vice president, chief accounting officer since March 2022. Abaelu’s scope of responsibility includes internal and external financial reporting, internal audit, tax, and accounting. A certified public accountant and certified internal auditor, Abaelu holds a B.Sc. (Hons) degree in accounting from the University of Nigeria, the company said in a media statement.

Shaffer joined PVH in 1990 as a financial budget manager and over the next 30 years worked his way up through the organisation, gaining valuable experience and insights into both financial and business operations. He held various roles, including director of accounting operations, vice president and controller, senior vice president of operations, and executive vice president, chief operating officer and chief financial officer. In addition, Shaffer took on the additional responsibility at PVH of guiding the Building Resources for African American Voices (BRAAVE) and served as the executive sponsor. He retired from PVH in September 2021. Shaffer completed his bachelor's degree in accounting from George Washington University and earned his CPA designation. He also served for five years on the board of directors of build-a-bear workshop, where he was chair of the audit committee.

Fibre2Fashion News Desk (GK)