NEW YORK–(BUSINESS WIRE)–Vince Holding Corp., (NYSE: VNCE), a global contemporary retailer, today announced that John Szczepanski is stepping down as Chief Financial Officer to pursue another opportunity, effective March 28, 2025. Yuji Okumura, VNCE’s current Vice President, Controller, will assume the role of Interim Chief Financial Officer, immediately following Mr. Szczepanski’s departure.
“On behalf of the entire team, I want to thank John for his contributions and leadership during this transformative time in Vince’s history. We wish him all the best in his future endeavors,” commented Brendan Hoffman, Chief Executive Officer of VNCE. “I have worked with Yuji previously and I have the utmost confidence in his ability to lead our accounting and finance organization and ensure a seamless transition. Yuji brings valuable experience and a deep understanding of our financial operations that will be instrumental as we enter a new chapter for the company. This internal promotion also reflects our commitment to recognizing talent within our organization and ensures strong leadership continuity.”
Mr. Okumura has nearly two decades of experience in accounting and financial reporting. He has served as the Company’s Vice President, Controller since 2020 after originally joining the organization in 2018 as its Director of Financial Reporting. Prior to Vince Holding Corp., Mr. Okumura worked for over 11 years in public accounting at KPMG US.
In addition to announcing the CFO transition, the Company today reaffirmed its previously disclosed guidance for the fourth quarter and full year fiscal 2024, as provided in the Company’s press release issued on December 10, 2024.
The Company’s actual results for the fourth quarter and full year fiscal 2024 are subject to completion of the Company’s year-end closing procedures. In addition, a triggering event has occurred in accordance with the Financial Accounting Standards Board ASC Topic 350 Intangibles-Goodwill and Other (“ASC 350”) as a result of the previously announced acquisition of the majority of our common stock by a subsidiary of P180, Inc. (“P180” and such acquisition, the “P180 Transaction”). Accordingly, management is currently in the process of conducting the required analyses relating to goodwill impairment. While no conclusions have been reached, there can be no assurance that the Company will not be required to record a non-cash charge for impairment of goodwill in its financial statements as a result of the P180 Transaction, which could negatively impact the Company’s results of operations for the period in which any such impairment charge is required.
ABOUT VINCE HOLDING CORP.
Vince Holding Corp. is a global retail company that operates the Vince brand women’s and men’s ready to wear business. Vince, established in 2002, is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day effortless style. Vince Holding Corp. operates 44 full-price retail stores, 14 outlet stores, and its e-commerce site, vince.com and through its subscription service Vince Unfold, www.vinceunfold.com, operated by CaaStle, as well as through premium wholesale channels globally. Please visit www.vince.com for more information.
