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Business Observer Thursday, Sep. 23, 2021 3 weeks ago

Retailer lures former Lululemon executive for CFO post

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Patrick Guido has more than 20 years of finance and operations experience.

FORT MYERS — Women’s retailer Chico’s FAS, coming off its best financial quarter in eight years, has named public company finance and operations veteran Patrick Guido CFO.

David Oliver, who had been interim CFO for the Fort Myers-based company since February 2020, has been re-appointed to his prior role of senior vice president finance – controller and chief accounting officer, according to a statement. For Guido, the spot at Chico’s is his third CFO role of a public company in the past three years: he was named CFO of athletic wear pioneer Lululemon in 2018 and left that company to take the same job at Asbury Automotive Group in May 2020. He then left Asbury this past June, citing personal reasons, according to a statement from the Duluth, Georgia-based auto retailer.

Guido will report directly to Chico’s President and CEO Molly Langenstein, according to a statement from the company. Guido has more than 20 years of finance and operations experience and has held numerous executive leadership roles at premier retail and consumer companies. Prior to  Lululemon, Guido held leadership roles in the finance departments at fashion and apparel company VF Corp. and The Home Depot.

At Lululemon, Guido, who goes by PJ, “provided financial oversight and business analytics during a historic growth period at the company, which resulted in a significant increase in aggregate revenue, strong EPS growth and substantial increase in share price over two years,” the release states.

"PJ is a highly accomplished finance executive with deep knowledge of the retail industry and a proven track record guiding companies through significant growth periods," Langenstein says in the statement. "We are excited about the growth of our company. I am pleased to welcome PJ to the Chico's FAS team."

"I am incredibly excited to join the Chico's FAS team and leverage my industry experience to continue strengthening the company's financial and operational performance," Guido says in the statement. "I look forward to partnering with Molly and the rest of the team to continue capitalizing on Chico's FAS' impressive momentum in its return to sustainable, profitable growth."

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