---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-179669"
form_type: "8-K"
ticker: "FIVE"
cik: "0001177609"
company_name: "FIVE BELOW, INC"
filed_at: "2024-07-16T23:59:59+00:00"
generated_at: "2026-05-31T20:23:44.586317+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Five Below CEO resigns, interim leadership appointed; Q2 comp sales decline and guidance lowered

## Summary
- CEO Joel D. Anderson resigned immediately, not due to any disagreement with the company.
- COO Kenneth Bull appointed interim President and CEO; co-founder Thomas Vellios named interim Executive Chairman.
- Board has commenced a search for a permanent CEO.
- Q2 FY2024 guidance revised: sales $820-$826M, comparable sales down ~6-7%, diluted EPS $0.53-$0.56.
- For the first 10 weeks of Q2, total sales rose 9.5% but comparable sales fell 5.0% versus prior year.

## SEC filing metadata
- accession: 0001193125-24-179669
- form_type: 8-K
- ticker: FIVE
- cik: 0001177609
- company_name: FIVE BELOW, INC
- filed_at: 2024-07-16T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1177609/000119312524179669/0001193125-24-179669-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1177609/000119312524179669/d739476d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-179669
- JSON: https://secwatch.observer/filing/0001193125-24-179669.json
- Plain text: https://secwatch.observer/filing/0001193125-24-179669.txt

## Key facts
- Executive change
  Kenneth R. Bull was appointed as President and Chief Executive Officer at FIVE BELOW, INC.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: On July 15, 2024, the Board appointed Mr. Kenneth R. Bull, the Chief Operating Officer of the Company, to also serve as the Company’s President and Chief Executive Officer on an interim basis while the Company conducts a search for Mr. Anderson’s permanent replacement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1177609/000119312524179669/0001193125-24-179669-index.htm
- Executive change
  Thomas G. Vellios was appointed as Executive Chairman of the Board at FIVE BELOW, INC.
  - Action: appointed
  - Role: Executive Chairman of the Board
  source text: On July 15, 2024, the Board appointed Thomas G. Vellios, the Company’s Non-Executive Board Chairman, as Executive Chairman of the Board of Directors also on an interim basis.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1177609/000119312524179669/0001193125-24-179669-index.htm
- Executive change
  Joel D. Anderson resigned as President and Chief Executive Officer at FIVE BELOW, INC.
  - Action: resigned
  - Role: President and Chief Executive Officer
  source text: On July 15, 2024, Joel D. Anderson, President and Chief Executive Officer of Five Below, Inc. (the “Company”), notified the Company’s Board of Directors (the “Board”) that he was resigning as President and Chief Executive Officer and a member of the Board effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1177609/000119312524179669/0001193125-24-179669-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.