On Thursday, Ascena Retail (NASDAQ:ASNA) announced it has hired away The Limited President and Chief Executive Officer Linda Heasley, to take the reins as President and CEO of its own Lane Bryant division.
In a statement extolling its successful poach, Ascena pointed out that, during her six years at privately held The Limited, Heasley helped return the company to "sustained profitability for the first time in 17 years."
Prior to taking the reins at The Limited, Heasley served as an executive at such companies as Timberland (now owned by VF Corp (NYSE:VFC)), Limited Brands, (NYSE:LB) (which used to own the eponymous store chain, and still retains the name), and CVS (NYSE:CVS). She is a graduate of Harvard Radcliffe College, and the John Anderson School of Management, UCLA.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Ascena Retail Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.