Mr. Asad says Michael Balmuth is the 3rd top CEO .
Continuing Issa Asad’s list of the top CEOs of the world is Michael Balmuth of Ross Stores. “I wanted to add some retail CEOs to my list, and Balmuth was one of my top choices,” said Issa Asad Florida-based CEO, marketing expert, and social media fanatic. Mr. Asad is the CEO of Quadrant Holdings and Q Link Wireless, located across South Florida.
Let’s learn about the top CEOs of the world number 3: Michael Balmuth of Ross Stores.
Who Is Michael Balmuth?
Micahel Balmuth is the executive Chairman of Ross Stores Incorporated. He was recently re-elected to this position on May 20, 2015. Balmuth has been in this position since June 2014. Initially, he was the Vice Chairman of the Board and Chief Executive Officer of Ross Stores from the year 1996 to May 2014. Before he was a Vice Chairman of the Board, he was in merchandising from the year 1989 to 1993. He is credited with in depth knowledge of merchandising as well as a lot of experience in the executive levels of the company.
What Is Ross Stores?
Ross Stores Inc. is a company that offers consumers with high quality shoes, apparel, accessories, and home fashions. It accomplishes this through the Ross Dress for Less® chain of stores. It is listed on the Standard & Poor 500, the Fortune 500, and the Nasdaq 100 list of top companies. Its headquarters are in Dublin, California, U.S.A. in the year 2014, it had revenues of $11.0 billion. It has managed to attract such revenues through its attractive discounts. Customers can get apparel and other products from the stores at discounts ranging between 20% and 60%.
Ross Stores has 1,242 stores distributed across 55 states in the U.S.A., the District of Columbia and Guam as of mid-2015. Moreover, it owns 157 dd’s DISCOUNTS® stores in 15 states of the U.S.A. These discount stores have products and apparel that is moderately priced and they are also high quality. In these specialty discount stores, customers can enjoy in-season, name brand clothing, footwear, and home fashion at discounts of between 20% and 70%. Many customers take advantage of this period to get the latest fashion clothes while saving money.
Ross Dress for Less® is the biggest chain of discount price apparel and home fashions in the U.S.A. The company grew from only 6 stores over 30 years ago. Now, they are at the industry leader of the retail market in the U.S.A. They have been at this position for the last 3 years and have buying centers in Boston, New York, and Los Angeles. The chain is hugely successful and it continues to flourish under the guidance of Chairman of the Board Mr. Michael Balmuth.
How Has Michael Balmuth Led Ross Stores?
The Chairman of the Board has led the chain of stores wisely. One of the moves that he made was when he cooperated with the Board of Directors to establish the succession plan that placed Madam Barbara Rentler firmly in the position of Chief Executive Officer on June 1, 2014. The same plan also ensured that Mr. Michael O’Sullivan continued in his capacity as the President and Chief Operating Officer. Balmuth helped to make these choices to ensure the survival and success of Ross Stores Inc. Since then, he has performed well in his position. This is reflected by the revenues of the year 2014 and the continued success of the company.
