Business
Superior Group of Companies Announces Michael Koempel as New Chief Financial Officer
Andrew D. Demott, Jr. to Remain as Chief Operating Officer and Director; Announces Retirement as an Employee Effective in 2023 SEMINOLE, Fla., May 31, 2022
About this update from Superior Group Of Companies, Inc.
[{"type":"text","content":"Andrew D. Demott, Jr. to Remain as Chief Operating Officer and Director; Announces Retirement as an Employee Effective in 2023\nSEMINOLE, Fla., May 31, 2022 (GLOBE NEWSWIRE) -- Superior Group of Companies, Inc. (NASDAQ: SGC), is pleased to announce that the Board of Directors of the Company has appointed Michael Koempel to the role of Chief Financial Officer (CFO) of the Company, effective May 31, 2022. Koempel, with more than 30 years of broad financial experience, has an impressive record of building and scaling high growth apparel and retail brands. Most recently, Koempel was chief operating officer of IT’SUGAR®, one of the largest specialty candy retailers in the U.S. Prior to that, Koempel served as chief operating officer of Victoria’s Secret Lingerie, a multi-billion dollar e-commerce and store-based retailer specializing in lingerie and apparel, from April 2017 to August 2020, and chief financial officer of Mast Global, which is the supply chain division of L Brands Inc. (now named Bath & Body Works®) from 2007 to 2017, among other positions. Koempel holds a Bachelor of Business Administration from the University of Dayton and is a Certified Public Accountant (currently inactive). Koempel will report directly to SGC’s Chief Executive Officer, Michael Benstock. “We are very excited to welcome Mike to SGC,” said Benstock. “Mike brings with him excellent leadership and team building skills, honed in companies that experienced substantial success while he was part of their senior management. His broad experience both overlaps with and is complementary to our current business. We look forward to leveraging Mike’s knowledge and passion to grow SGC.” Koempel said, “I am acutely aware of the responsibility that SGC has entrusted me with as the financial steward of such a storied yet still evolving company. SGC is primed to convert on its strategic initiatives, and I look forward to helping drive that growth. It never is easy taking over from a long tenured and successful executive, but knowing that Andy selected me as his successor and having him remain with the Company for the near term will help to ease the transition.” Alongside the hiring of Koempel comes the announcement that Andrew D. Demott, Jr. will resign as Chief Financial Officer, effective May 31, 2022, but will remain with the Company as its Chief Operating Officer ...