Ross dress for less has announced that William Sheehan, group senior vice president of finance, will succeed Adam Orvos as chief financial officer on 1 October 2025.
The appointment follows news that Adam Orvos, Ross’ current executive vice president and chief financial officer, will retire on 30 September 2025.
Sheehan brings decades of experience in finance in the retail industry to the role, with 15 years of experience working at Lord & Taylor before joining Ross.
Since joining Ross in February 2006, Sheehan has served in multiple managerial roles in the finance sector of the organization.
In his new role, he will oversee the company’s financial operations, investor relations, financial planning and risk management and will report to chief operating officer Michael Hartshorn.
Hartshorn said: “Bill is a proven and talented finance executive with extensive managerial experience as well as a deep understanding of Ross.
“While Bill has reported to Adam over the past four years, he and I have worked closely together during his long tenure with the company, which will support a smooth transition.”
In October 2024, the company appointed a new CEO, James Conroy, succeeding Barbara Rentler after a decade in the position.
The organizational restructuring comes as a part of the company’s turnaround plan following slow sales in their most recent report.
In Q3 of 2024, Ross saw its net income rise to $489 million compared to $447 million in the previous year, and sales were $5.1 billion, up from $4.9 billion in the prior year.
Barbara Rentler, CEO of Ross, said in an earnings report: “Although our low-to-moderate-income customers continue to face persistently high costs on necessities, pressuring their discretionary spending, we believe we should have better executed some of our merchandising initiatives.”
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