Devine joins Five Below board
Former Coach CFO Michael Devine has joined the board of rapidly growing discount retailer Five Below.
Devine served as CFO at Coach from 2001 to 2011. He will replace Five Below board member Howard Ross who resigned and serve as chair of the retailer’s audit committee.
Devine currently serves on the boards of Express, Deckers, Talbot's, and Sur La Table, and previously served on the board of NutriSystems.
"We are pleased to welcome Mike to our board of directors. Mike has enjoyed a distinguished career in financial leadership roles concentrated in the retail industry," said Five Below executive chairman David Schlessinger. "We look forward to benefitting from his expertise as we execute our growth plans. We would also like to thank Howard for his many valuable contributions over the years and wish him the best."
The Philadelphia-based retailer operates approximately 240 stores and derives its name from the fact that all merchandise is offered at less than $5. The company recently announced plans to expand into Texas in 2013 as part of an ambitious goal to open 60 stores in new and existing markets. By year end the company expects to be operating roughly 300 units.