Vera Bradley appoints new CFO, targets $12M in additional cost cuts

Vera Bradley, Inc.

Michael Schwindle named CFO effective May 8, 2023; base salary $525,000 plus incentives.
Company targeting $12M in incremental cost reductions for FY2024, including ~25 corporate job cuts.
Previous $27M in cost reductions largely realized in FY2023; total savings now ~$39M.
Current CFO John Enwright to step down, stay through June 9 for transition.
Reorganization focuses on Marketing, Ecommerce, Product Design, and Development areas.

item 5.02 item 9.01

Executive movements

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

Departed

John Enwright

Chief Financial Officer

VRA · Vera Bradley, Inc.

Successor: Michael Schwindle
Filed: April 25, 2023, 7:59 PM ET

John Enwright, the Company’s current CFO, will be stepping down as a result of Mr. Schwindle’s appointment.

Appointed

Michael Schwindle

Chief Financial Officer

VRA · Vera Bradley, Inc.

Effective: 2023-05-08
Filed: April 25, 2023, 7:59 PM ET

On April 25, 2023, Vera Bradley, Inc. (the “Company”) announced that Michael Schwindle will join the Company as Chief Financial Officer (“CFO”) effective May 8, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John Enwright departed as Chief Financial Officer at Vera Bradley, Inc..

Action: stepping down
Role: Chief Financial Officer

Exact text from the filing

John Enwright, the Company’s current CFO, will be stepping down as a result of Mr. Schwindle’s appointment.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Schwindle was appointed as Chief Financial Officer at Vera Bradley, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On April 25, 2023, Vera Bradley, Inc. (the “Company”) announced that Michael Schwindle will join the Company as Chief Financial Officer (“CFO”) effective May 8, 2023.

View on SEC.gov

Vera Bradley, Inc. filing history →

Source: SEC EDGAR

accession 0001495320-23-000017

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