Destination XL Group, Inc. Names Jonathan Sainsbury Chief Digital and Analytics Officer

Rhea-AI Summary

Destination XL Group, Inc. (NASDAQ: DXLG) has appointed Jonathan Sainsbury as Chief Digital and Analytics Officer. With over 20 years in performance marketing and analytics, Sainsbury previously served at Blue Nile as Chief Strategy Officer. His role at DXL will focus on enhancing digital initiatives, traffic generation, and data-driven marketing strategies. Effective October 26, 2022, Sainsbury will receive 15,174 restricted stock units, vesting over three years. CEO Harvey Kanter emphasized the importance of this strategic hire to transform DXL into a digitally-driven organization.

Positive

• Appointment of Jonathan Sainsbury as Chief Digital and Analytics Officer.
• Sainsbury brings extensive experience in performance marketing and digital strategy.
• Focus on enhancing digital initiatives and traffic generation to improve customer engagement.

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• None.

CANTON, Mass., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. (NASDAQ: DXLG), the leading omni-channel specialty retailer of men’s Big + Tall clothing and shoes, announced that Jonathan Sainsbury is joining its team as Chief Digital and Analytics Officer today. Mr. Sainsbury brings 20 years of marketing experience, specifically as it relates to performance marketing, analytics and strategic planning. Mr. Sainsbury spent over 17 years with Blue Nile, an online retailer of fine jewelry, where he was most recently their Chief Strategy Officer and President of International. Prior to that, he held a number of leadership positions, including as Chief Revenue Officer, Vice President and Head of Strategy and Vice President of Marketing. Prior to Blue Nile, Mr. Sainsbury was an associate consultant with the management consulting firm Bain & Company. Most recently, Mr. Sainsbury has led his own consulting business focused on digital growth strategy, with clients spanning direct-to-consumer retail, omni-channel retail and enterprise technology. At DXL, he will be responsible for all digital initiatives across the organization, including building the brand digitally, driving traffic to stores, digital and mobile commerce, the Company’s overarching digital marketing strategy and analytics practice, reporting to the Company’s Chief Marketing Officer. Mr. Sainsbury holds a Bachelor of Arts in physics from Pomona College.

“We are extremely pleased that Jon is joining DXL Big + Tall as our new Chief Digital and Analytics Officer,” said Harvey Kanter, President and CEO. “Jon’s profound level of experience working with digitally native brands, which have transitioned into brick and mortar, provides DXL with the additional leverage needed to meaningfully affect our ongoing transformation and commitment to building out a digitally-driven marketing organization. This strategic hire will continue to focus the organization on customer engagement through data-driven personalization, loyalty and digital marketing,” continued Mr. Kanter.

“I’m thrilled to join the team at DXL, and I look forward to expanding upon our capabilities in performance marketing, digital commerce, and analytics while furthering our mission to create a word-class omni-channel shopping experience for the big and tall man,” said Mr. Sainsbury.

Inducement Grant under NASDAQ Listing Rule 5635(c)(4)

Mr. Sainsbury is joining the Company effective October 26, 2022 and, in connection with his employment, he will receive a sign-on award of 15,174 restricted stock units (“RSUs”). The RSUs will vest in equal annual installments over three years, beginning on the first anniversary of the date of grant. The RSUs will be granted outside of the Company’s stockholder-approved stock compensation plan. The RSUs were approved by the compensation committee of the board of directors, which is comprised solely of independent directors, as a material inducement to Mr. Sainsbury’s entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

About Destination XL Group, Inc.

Destination XL Group, Inc. is the leading retailer of Men’s Big + Tall apparel that delivers a Big + Tall shopping experience that fits -- fits his body, fits his style, fits his life. Subsidiaries of Destination XL Group, Inc. operate DXL Big + Tall retail and outlet stores and Casual Male XL retail and outlet stores in the United States, and a digital commerce website, DXL.com, and mobile app which offer a multi-channel solution similar to the DXL store experience with the most extensive selection of online products available anywhere for Big + Tall men. The Company is headquartered in Canton, Massachusetts, and its common stock is listed on the Nasdaq Global Market under the symbol "DXLG." For more information, please visit the Company's investor relations website: https://investor.dxl.com.

Investor Contact:
Investor.relations@dxlg.com
603-933-0541

FAQ

Who is the new Chief Digital and Analytics Officer of DXLG?

Jonathan Sainsbury has been appointed as the Chief Digital and Analytics Officer of Destination XL Group, effective October 26, 2022.

What experience does Jonathan Sainsbury bring to DXLG?

Sainsbury has over 20 years of experience in performance marketing and analytics, including leadership roles at Blue Nile.

What are the responsibilities of the new Chief Digital and Analytics Officer at DXLG?

Sainsbury will oversee all digital initiatives, including digital marketing strategy, driving store traffic, and enhancing mobile commerce.

When will Jonathan Sainsbury's restricted stock units vest?

The 15,174 restricted stock units awarded to Sainsbury will vest in equal annual installments over three years, starting on the first anniversary of the grant date.