Ollie's Bargain Outlet Announces the Appointment of Eric van der Valk to President & Chief Executive Officer, Completing Leadership Succession Plan

Core Viewpoint - Ollie's Bargain Outlet Holdings, Inc. has appointed Eric van der Valk as the new President & CEO, effective February 2, 2025, completing the company's Leadership Succession Plan initiated in June 2024 [1][2]. Group 1: Leadership Changes - Eric van der Valk has been appointed as President & CEO and has joined the Board of Directors, increasing the total number of directors from nine to ten [1]. - John Swygert has transitioned to the role of Executive Chairman of the Board after over 20 years of leadership [1][2]. - The Board expressed confidence in Eric van der Valk's ability to lead the company towards sustainable long-term growth due to his extensive experience in closeout, deep discount, merchandising, and operations [2]. Group 2: Company Overview - Ollie's is recognized as America's largest retailer of closeout merchandise and excess inventory, providing significant value on brand name products across various departments [3]. - The company operates 562 stores across 31 states and continues to expand its footprint [3].