Ross Stores, the American chain of discount department stores, will elevate Michael Balmuth to the position of Executive Chairman of the Board. Balmuth, who had been serving as a strategic advisor to the company, previously held the role of Chairman of the Board from 2014 to 2021 and was also Executive Chairman until 2019 before transitioning to his advisory role.
On the role change, Balmuth expressed, “I eagerly anticipate collaborating in my new role with our accomplished and skilled executives across the organization. I have full confidence that, together, we will continue to optimise our prospects for both growth and profitability in the years ahead.”
This transition occurred following Chairman George Orban’s departure from the role due to personal reasons. Orban will remain an independent director at Ross Stores. Additionally, K. Gunnar Bjorklund will assume the position of Lead Independent Director, who is also ex-Director of Strategic Planning at American Express Company.
