Reports: Chico’s CEO out as new owners take over

As the Fort Myers retailer prepares to reopen the Sanibel Island store that began it all, shareholders approve a $1 billion sale.

By Louis Llovio
| 6:15 p.m. January 9, 2024
| 0 Free Articles Remaining!

Chico's FAS is headquartered on a 10-building campus off Metro Parkway in Fort Myers.

Charlotte–Lee–Collier

According to published reports, Chico’s FAS president and CEO Molly Langenstein is out — just days after the company’s sale to a New York private equity firm closed and right before the Fort Myers chain reopens its original store.

Langenstien’s departure was reported by the industry publication RetailDive and by the Fort Myers News Press. Neither Sycamore Partners, the new owner, nor Langenstein responded to requests from the Business Observer for comment or confirmation.

Chico’s shareholders approved the all-cash sale of the company to New York-based Sycamore Jan. 5. The transaction, Chico’s said in a statement, was valued at about $1 billion.