Secaucus, NJ – The struggling Vitamin Shoppe, Inc. has named Sharon M. Leite, Godiva Chocolatier President/N.A. its new CEO, effective Aug. 27. She will also become a member of the Board of Directors.
“Sharon’s broad experience and impressive track record makes her an ideal choice to lead both our turnaround and future growth,” said Alex Smith, chairman of the board, in a statement announcing the hire.
“I look forward to working with the leadership team and all The Vitamin Shoppe Health Enthusiasts®,” Leite said. “I share their passion for health and wellness and for providing customers with the best shopping experience.”
Leite joined Godiva in October 2017, and led the business across all channels, including brick-and-mortar, ecommerce and wholesale.
Prior to that, she was the president of Sally Beauty, US and Canada, an international specialty retailer and distributor of professional beauty products, with over 3,000 stores.
Leite spent close to a decade at Pier 1 Imports with her last position in 2016 as EVP of sales, customer experience, & real estate. Earlier in her career, Leite held various executive leadership roles at Bath and Body Works as well as various sales and operations positions with other prominent retailers including Gap, Inc., The Walt Disney Company and Express.
Leite has been a director of Tandy Leather Factory, Inc. since June 2017 and is also on the Board of Texas Christian University’s Neeley School of Business. Additionally, she was a founding member of the Store Operations Council and also serves on the board of The Retail Analytics Council.
In connection with Leite’s hiring, the Compensation Committee of Vitamin Shoppe, Inc.’s Board of Directors will award Ms. Leite an equity grant of performance share units, valued at $1 million, as of the grant date (with maximum performance resulting in 150% settlement of such award in shares of the Company’s common stock), vesting 50% based on the Company’s achievement of revenue targets and 50% based on the Company’s achievement of adjusted EBITDA targets over calendar years 2019, 2020, 2021, in each case, subject to Ms. Leite’s continued employment with the Company (the “Inducement Award”).