Christopher & Banks Corporation Announces Extension of Term for Chief Executive Officer.MINNEAPOLIS -- Christopher & Banks Corporation (NYSE NYSE See: New York Stock Exchange : CBK CBK Common Body of Knowledge CBK Commerzbank AG CBK Central Bank of Kuwait CBK Commercial Bank of Kuwait CBK Christiania Bank og Kreditkasse CBK Campus Beiaard Kring CBK Cannabis-Bundeskonferenz (Germany) ) today announced that Joseph E. Pennington, the Company's Chief Executive Officer has extended his employment agreement and will continue to serve as the Company's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. through February 28, 2007. In addition, Mr. Pennington has agreed to remain with the Company as a part-time employee in an advisory role through August 31, 2008. Mr. Pennington joined the Company in 1997. He served as the Company's President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. from September, 1999 until December, 2005 when he was promoted to Chief Executive Officer. Joe Pennington Joe Pennington, aka "Joe Penny," (born January 15, 1928 in Plant City, Florida) is a former lead guitarist for Hank Williams' backing band, the Drifting Cowboys. After leaving the Drifting Cowboys in 1948, Pennington continued to perform and recorded several pioneering , Chief Executive Officer, commented, "I am pleased to extend my employment contract with the Company. We are in the early stages of improvement in the Company's operations and I look forward to working with the rest of our management team as Christopher & Banks continues its growth." About Christopher & Banks Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. The Company operates 714 stores in 45 states under the names: Christopher & Banks, C.J. Banks and Acorn. The Company currently has 507 Christopher & Banks stores, 182 C.J. Banks stores and 25 Acorn stores. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding future performance of the Company. The achievement of such results is subject to certain risks and uncertainties, including changes in economic, market and weather conditions, the effect of consumer tastes and spending habits, the realization of expected economies gained through the use of private label and direct import merchandise, management of growth and other factors outside the Company's control, including factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that may arise after the date hereof. |
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