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Big Lots Picks a New CEO

Columbus, Ohio-based Big Lots (NYSE: BIG  ) has a new big boss.

On Tuesday, the bricks-and-mortar closeouts retailer announced that Chief Executive Officer Steve Fishman, who announced plans to retire back in December, will officially depart the corner office on May 6, to be replaced by former Respect Your Universe CEO David Campisi.

For Campisi, it's a big move up, leaving a micro-cap retailer with less than $1 million in annual sales, to join a big (literally) name in retailing -- one with $2.1 billion in market cap, and annual sales of $5.4 billion. But the new job won't be entirely out of scale with his experience. Before heading RYU, Campisi served as CEO of privately held The Sports Authority, which last year did $2.5 billion in business .

Big Lots has not yet filed details of Campisi's compensation package with the SEC.

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8/26/2016 4:02 PM
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Big Lots CAPS Rating: ***