Cache Announces Management Changes
Anthony F. DiPippa Named Executive Vice President, Chief Financial Officer
NEW YORK -- August 1, 2013
Cache Inc., (NASDAQ: CACH), a specialty chain of women’s apparel stores, today
announced that Anthony DiPippa (“Tony”) will join the Company as Executive
Vice President, Chief Financial Officer on August 7, 2013. Mr. DiPippa,
succeeds Margaret Feeney (“Maggie”), who resigned from the Company today,
August 1, 2013.
Anthony DiPippa comes to Cache with over 16 years of experience in finance
with leading companies including W.B. Mason, Godiva Chocolatier, Dun and
Bradstreet and Procter & Gamble. Most recently, he was Chief Financial Officer
of W. B. Mason, a $1.2 billion office products and furniture company. At W.B.
Mason, Tony upgraded the finance and accounting function to drive process
improvement, increase financial discipline and generate cost savings. Prior to
W. B. Mason, Tony held the position of Vice President, North America Finance
at Godiva Chocolatier where he was responsible for evaluating and executing
opportunities for financial planning, strategy, budgeting, business analysis,
reporting, pricing analysis and internal controls. While at Godiva, Tony
spearheaded profit improvement plans, redesigned and created key financial
processes to enhance business analysis and decision-making, and led key
elements of the divestiture of Godiva from Campbell’s.
Jay Margolis, Chairman and Chief Executive Officer, commented “We are pleased
to have Tony join our executive team as Chief Financial Officer. I know Tony
professionally, and his proven track record of success in leading finance
teams and developing the processes and disciplines that support long term
strategic growth plans make him uniquely suited for this important role. I
would also like to thank Maggie for her 21 years of dedicated service to Cache
and wish her the best in the future.”
Mr. DiPippa commented: “Cache is a strong brand with a loyal following and
significant potential. I look forward to working with Jay and assisting the
Company to build a world class finance function supporting the initiatives
that are expected to bring about sustained profitable growth.”
Margaret Feeney stated: “I am pleased to be leaving the Company in great
hands. My time at Cache has been truly rewarding and I am confident that the
team will move the business forward in a positive direction.”
About Cache, Inc.
Cache is a nationwide, mall-based specialty retailer of sophisticated
sportswear and social occasion dresses targeting style-conscious women who
have a youthful attitude and are self-confident. The Company currently
operates 250 stores, primarily situated in central locations in high traffic,
upscale malls in 41 states, the Virgin Islands and Puerto Rico.
Certain matters discussed within this press release may constitute
forward-looking statements within the meaning of the federal securities laws.
Although Cache, Inc. believes the statements are based on reasonable
assumptions, there can be no assurance that these expectations will be
attained. Actual results and timing of certain events could differ materially
from those projected in or contemplated by the forward-looking statements due
to a number of factors, including, without limitation, our ability to
successfully implement our business strategy and to integrate new members of
management, industry trends, merchandise and fashion trends, competition,
seasonality, changes in general economic conditions and consumer spending
patterns, as well as other risks outlined from time to time in the filings of
Cache, Inc. with the Securities and Exchange Commission.
Allison Malkin/Rachel Schacter
(203) 682-8225/(646) 277-1243
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