Five Below Appoints Kenneth Bull As Interim President And CEO; Tom Vellios As Interim Executive Chairman; Board Launches Search For Permanent CEO; Company Provides Quarter-To-Date Sales Results And Updates Guidance For Q2 Fiscal 2024
Portfolio Pulse from Benzinga Newsdesk
Five Below has appointed Kenneth Bull as Interim President and CEO and Tom Vellios as Interim Executive Chairman. The board has initiated a search for a permanent CEO. The company also provided quarter-to-date sales results and updated its guidance for Q2 Fiscal 2024.
July 16, 2024 | 8:02 pm
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Five Below has made significant leadership changes by appointing Kenneth Bull as Interim President and CEO and Tom Vellios as Interim Executive Chairman. The board is searching for a permanent CEO. The company also updated its Q2 Fiscal 2024 guidance.
The appointment of interim leadership and the search for a permanent CEO indicate a period of transition for Five Below. The updated guidance for Q2 Fiscal 2024 suggests the company is actively managing its performance expectations, which could positively impact investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100