Destination XL Group, Inc. Appoints James Reath as Director
CANTON, Mass., Sept. 20, 2022 (GLOBE NEWSWIRE) — Destination XL Group, Inc. (NASDAQ: DXLG), the leading omnichannel specialty retailer of Big + Tall men’s apparel and footwear, today announced that James Reath joins his team as Chief Marketing Officer on September 26, 2022. Mr. Reath brings over 20 years of marketing leadership experience with a particular focus on omni-retail, digital marketing, brand building and consumer knowledge. Prior to joining DXL, Mr. Reath was SVP, Marketing, Bed Bath & Beyond, and SVP, Marketing, Macy’s, Inc. Prior to that, Mr. Reath was EVP, Head of Retail at BBDO (New York), a partner at McKinney , Chief Marketing Officer at Young & Rubicam and previously held senior agency leadership roles focused on retail clients. At DXL, he will be responsible for the marketing organization including overall marketing strategy, brand, consumer, creative, media, CRM and digital commerce. Mr. Reath holds a Management Certificate from the Kellogg School of Management at Northwestern University, a BA from Western University in London, Ontario, Canada and serves on the Board of Trustees of the Cross- American Red.
“We are extremely pleased that Jim has joined DXL Big + Tall as its new Chief Marketing Officer,” said Harvey Kanter, President and CEO. “Jim’s appointment underscores our continued transformation and commitment to growing the organization’s ongoing focus on customer engagement through data-driven personalization, loyalty and digital marketing,” continued Mr. Kanter.
“I am excited to bring DXL to more big and tall men and engage our customers in a personalized way as we seek to grow the business across all channels and firmly establish DXL Big + Tall as one-stop solution for big and tall men’s clothing and footwear,” said Reath.
Mr. Reath will replace Ujjwal Dhoot, the company’s current chief marketing officer, who has informed the company that he will be leaving the company effective October 11, 2022.
Incentive grant under NASDAQ listing rule 5635(c)(4)
Mr. Reath will join the Company on September 26, 2022 and as part of his employment will receive a signing award of $200,000 of restricted stock units (“RSUs”), which will be granted on October 7, 2022 The number of shares will be determined by dividing $200,000 by the closing price of the Company’s stock on the previous trading day. RSUs will vest pro rata in equal annual installments over three years, beginning on the first anniversary of the date of grant. The RSUs will be granted outside of the equity compensation plan approved by the shareholders of the Company. The RSUs were approved by the Compensation Committee of the Board of Directors, composed entirely of independent directors, as a material incentive for Mr. Reath to join the Company in accordance with the listing rule. Nasdaq 5635(c)(4).
Executive search firm Kirk Palmer Associates participated in this research.
About Destination XL Group, Inc.
Destination XL Group, Inc. is the leading Big + Tall men’s apparel retailer that delivers a Big + Tall shopping experience that fits their body, their style, their life. Subsidiaries of Destination XL Group, Inc. operate DXL Big + Tall retail and outlet stores and Casual Male XL retail and outlet stores in the United States, as well as a digital commerce website, DXL .com, and a mobile app that offer a multi-channel solution similar to the DXL store experience with the most comprehensive selection of online products available anywhere for big and tall men. The company is headquartered in Canton, Massachusetts, and its common stock trades on the Nasdaq Global Market under the symbol “DXLG.” For more information, please visit the Company’s Investor Relations website: https://investor.dxl.com.