Ross Stores appoints Michael Balmuth as Executive Chairman; Orban steps down as Chair

ROSS STORES, INC.

Effective Sept 1, 2023, Michael Balmuth returns as Executive Chairman; George Orban remains a director.
Balmuth receives salary ≥$1.4M/yr, 175% target bonus, retention bonus $4.7M payable Feb 2026.
Balmuth granted RSU of $3.5M vesting Sept 2024; equity awards for FY2023-2025.
K. Gunnar Bjorklund appointed Lead Independent Director.
Balmuth's Executive Chairman term ends Jan 31, 2026; Senior Advisor through Mar 31, 2026.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

George P. Orban

Chairman of the Board

ROST · ROSS STORES, INC.

Effective: 2023-09-01
Successor: Michael Balmuth
Filed: August 31, 2023, 7:59 PM ET

Concurrently with the election and appointment of Mr. Balmuth, George P. Orban will step down as Chairman of the Board while remaining on the Board of Directors.

Appointed

Michael Balmuth

Executive Chairman

ROST · ROSS STORES, INC.

Effective: 2023-09-01
Filed: August 31, 2023, 7:59 PM ET

Effective September 1, 2023, the Board of Directors of Ross Stores, Inc. (the “Company”) has elected Michael Balmuth as a member of the Board of Directors and appointed him as Executive Chairman.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

George P. Orban changed role as Chairman of the Board at ROSS STORES, INC..

Action: stepped down
Role: Chairman of the Board

Exact text from the filing

Concurrently with the election and appointment of Mr. Balmuth, George P. Orban will step down as Chairman of the Board while remaining on the Board of Directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Balmuth was appointed as Executive Chairman at ROSS STORES, INC..

Action: appointed
Role: Executive Chairman

Exact text from the filing

Effective September 1, 2023, the Board of Directors of Ross Stores, Inc. (the “Company”) has elected Michael Balmuth as a member of the Board of Directors and appointed him as Executive Chairman.

View on SEC.gov

ROSS STORES, INC. filing history →

Source: SEC EDGAR

accession 0000745732-23-000055

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