Women’s apparel company Ascena Retail Group Inc. said late Wednesday Kay Krill is stepping down as president and chief executive of Ann Inc., a subsidiary of Ascena, to join the parent company’s board of directors. Gary Muto will replace Krill as CEO of Ann, the Ascena unit behind the Ann Taylor, Loft and Lou & Grey brands. Muto has been president of Ann brands since 2014. Shares of Ascena were flat in late trading Wednesday after ending the regular trading session up 3.7%. Ascena, which bought Ann earlier this year for about $2 billion, is one of the largest women’s clothing retailers with brands such as Dressbarn, Justice and Lane Bryant.
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