Ross Stores, Inc. announced the succession plan for the Board Chair role, involving the stepping down of Michael Balmuth and the appointment of K. Gunnar Bjorklund.
The transition is set to take place on January 31, 2026, with Balmuth continuing as a Senior Advisor until March 31, 2026.
Bjorklund, the current Lead Independent Director, will assume the role of Chairman of the Board on February 1, 2026.
Succession Plan
Michael Balmuth will step down as Executive Chairman and retire from the Board, with K. Gunnar Bjorklund taking over as the new Chairman.
Bjorklund's Background
Bjorklund has extensive experience in the Company and the retail sector, making him well-suited for the role.
Gratitude to Balmuth
Acknowledgment of Michael Balmuth's significant contributions and leadership over almost three decades.
- The appointment of K. Gunnar Bjorklund signifies a strategic move to ensure continuity and stability in Ross Stores' leadership.
- Balmuth's retirement marks the end of an era but paves the way for fresh perspectives under Bjorklund's guidance.
Ross Stores expresses confidence in its future outlook under the new Board Chairmanship and acknowledges Balmuth's lasting impact on the company's growth and success.