Reitmans (Canada) Limited Announces CEO and Executive Chair Appointments

Andrea Limbardi appointed President and Chief Executive Officer Stephen Reitman appointed Executive Chair

MONTREAL, June 6, 2023 /CNW/ - Reitmans (Canada) Limited ("RCL" or the "Company") (TSXV: RET), Canada's leading specialty apparel retailer, is pleased to announce that Andrea Limbardi has been named President and Chief Executive Officer, effective September 5, 2023. Stephen Reitman, current President and Chief Executive Officer, will assume the position of Executive Chairman of the Board, while Daniel Rabinowicz will take on the position of Vice-Chair and Lead Independent Director.

Andrea brings a wealth of retail and leadership expertise to this role. She has over 20 years of experience in operations, customer service, merchandising, marketing and e-commerce, and is a thoughtful and visionary leader. Her strategic approach to innovation, digital-first mindset, and deep understanding of consumer behavior will enable her to effectively lead RCL at a pivotal moment in its growth.

On the appointment of Andrea Limbardi, Mr. Reitman said, "I'm thrilled to have Andrea joining RCL as the Company's first non-family member CEO. For 97 years, a member of the Reitman family has been at the helm of RCL, and it is with great pride and confidence that we turn the reins over to a skilled and brilliant executive. I know that Andrea's extensive experience in retail, coupled with her strategic business acumen and strong leadership abilities will bring her and the Company much success."

Ms. Limbardi said "I am honoured and excited to be joining RCL. I am thankful to Stephen and the entire Board for their confidence, and I look forward to their partnership to continue to grow this iconic Canadian retailer. I am also excited to work with and meet the incredible teams at RCL's three banners: Reitmans, Penningtons, and RW&CO."

The Company is a leading women's specialty apparel retailer with retail outlets throughout Canada. As at January 28, 2023, the Company operated 406 stores consisting of 235 Reitmans, 91 Penningtons and 80 RW&CO.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Reitmans (Canada) Limited