Ascena Retail Group Inc. has reduced the size of its board from 12 directors to 10 after two board members announced their resignations Wednesday.
Steven Kirshenbaum and Marc Lasry are resigning effective June 30. The board has approved a reduction in the size of its board, effective as of the same day.
“The reduction in the size of the board is consistent with our decision to focus on a portfolio with fewer brands and to right-size the corporate overhead structure,” said Interim Executive Chair Carrie Teffner in a statement.
Kirshenbaum, a director since 2015, is a senior partner in the corporate department of New York-based Proskauer Rose LLP. Lasry joined the board in June 2015 after previously having served as a member from February 2004 to October 2006. Lasry co-founded global investment firm Avenue Capital Group in 1995, which he continues to run as chairman and chief executive officer.