Citi Trends (CTRN) announced that its board of directors has elected Kenneth Seipel, the company’s CEO and a member of the board, as chairman of the board, effective April 2. The board unanimously voted to elect Seipel to the newly combined role, recognizing his extensive leadership experience and deep understanding of the company’s operations. Additionally, the board appointed David Heath to serve as the lead independent director effective April 2. Additionally, Citi Trends announced the retirement of Peter Sachse from the board, effective as of April 2. Sachse has served Citi Trends in multiple capacities since 2019, including as interim CEO, executive chairman of the board, and most recently as the chairman of the board.
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