“Liz has done a terrific job leading Torrid, including playing an important role in the company’s successful initial public offering in 2021,” said Stefan Kaluzny, chairman of Torrid’s board of directors. “Liz is driven by her passion for product and Torrid’s customer, and we are thrilled to have her assume this critical new role at the company.”

In turn, retail industry veteran Lisa Harper has been named as Muñoz’s successor as chief executive officer. Harper previously served as CEO of Belk, Hot TopicGymboree

“Lisa brings tremendous direct-to-consumer experience to her new role at Torrid,” added Kaluzny. “Together Lisa and Liz will focus on driving strategic growth and value for all stakeholders. Liz’s focus on product and the customer combined with Lisa’s operational expertise create an outstanding team.”

Moreover, as previously announced, George Wehlitz retired from his role as CFO at the end of the first quarter of fiscal 2022 and is now serving as an advisor to ensure a smooth transition. In interim, Tanner MacDiarmid will serve as interim chief financial officer. His experience includes leadership roles as partner at Meru, senior vice president at McKinsey

Likewise, Chinwe Abaelu, senior vice president, chief accounting officer, will serve as principal financial officer from now until a new CFO joins Torrid.

In conjunction with these organizational changes, Torrid also announced that Michael Shaffer, former CFO of PVH

He will serve alongside Theo Killion, the lead independent director, and Valeria Rico, also an independent director. Shaffer retired in September 2021 after serving 31 years with PVH in various leadership roles including CFO and chief operating officer.

All the appointments are effective immediately.