Content about Michael C. Ray

June 5, 2013

On the heels of reporting net revenues of $123 million for the first quarter ended May 4 — an increase of 5% from $117.2 million in the first quarter of the year prior — a Vera Bradley has announced that CEO Michael C. Ray plans to retire from the company.

FORT WAYNE, Ind. — On the heels of reporting net revenues of $123 million for the first quarter ended May 4 — an increase of 5% from $117.2 million in the first quarter of the year prior — Vera Bradley has announced that CEO Michael C. Ray plans to retire from the company.

Ray informed the company's board of directors that he will remain CEO through the transition period and intends to continue to serve as a director. The board has formed a search committee and retained Spencer Stuart to assist in the search for Ray's successor.