Plano’s Upbound Group Adds Retail Industry Stalwart to Its Board

Molly Langenstein, a 30-year retail veteran who held leadership roles at major brands like Macy's, Bloomingdale's, and most recently as CEO of Chico's FAS, has been appointed to the board of Plano-based Upbound Group.

Molly Langenstein has been appointed as an independent director to the board of directors of Plano-based Upbound Group Inc., a provider of technology-driven, flexible leasing solutions for consumers through its operating brands that include Rent-A-Center and Acima.

According to Upbound Group CEO Mitch Fadel, Langenstein’s “extensive leadership delivering omni-channel solutions to consumers” and her senior executive and prior board experience will be a valuable addition to the company’s board.

Fadel said the company looks forward to her insights and contributions as it implements “technology-driven solutions to enable our customers to shop when, how, and where they want.”

Langenstein is a 30-year retail industry veteran with a track record of building multiple successful brands, Upbound said, adding that her experience and leadership include navigating the evolving digital landscape for consumers and delivering omni-channel experiences.

Most recently, Langenstein was CEO and president and a member of the board of directors of Chico’s FAS, one of the leading fashion retailers in North America, until Chico’s was acquired by Sycamore Partners in January.

Langenstein joined Chico’s in August 2019 as the company’s president, Apparel Group, and transitioned to the role of CEO and president on June 24, 2020.

Before Chico’s, Langenstein spent nearly three decades at Macy’s Inc., where she was promoted to numerous executive positions with increasing scope and responsibility, including general business manager, Ready-to-Wear at Macy’s from 2017 to 2019. Before, she was chief private brands officer of Macy’s and Bloomingdale’s from 2015 to 2017. Langenstein was EVP of private brands for men’s and children’s wear at Macy’s Private Brands from 2013 to 2014.

In 2012, Langenstein was named EVP, group merchandise manager of the millennial group at Macy’s.

She will stand for election to the Board at the Company’s 2024 annual meeting of stockholders with all current directors except Jen You, who notified the company on April 1 that she has chosen not to stand for re-election at the end of her current term.

In 2023, Rent-A-Center rebranded its corporate entity as Upbound Group, Inc. The strategic move came two years after Rent-A-Center nearly doubled its size through the acquisition of Acima Holdings. The rebranding was marked by a change in the stock ticker to NASDAQ: UPBD, effective February 27, 2023.

The company’s Rent-A-Center and Acima businesses continued to operate under their existing names.

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