National Vision Announces the Appointment of Alex Wilkes as President

Rhea-AI Summary

National Vision Holdings (NASDAQ: EYE) has announced significant leadership changes. Alex Wilkes will join as President on August 19, 2024, reporting to CEO Reade Fahs. Wilkes, formerly President of the Americas at CooperVision, brings extensive optical industry experience. This follows the July 1 appointment of Mark Banner as Chief Stores Officer.

Concurrently, Patrick Moore, Chief Operating Officer, will retire at the end of 2024. Moore will transition to an advisory role on August 19 to support leadership changes. These moves are part of National Vision's transformation strategy to drive profitable growth while maintaining its culture and values.

The company emphasizes Wilkes' strategic acumen and track record in sales and profit growth as key factors in his appointment. National Vision aims to leverage his expertise to accelerate business transformation and enhance value for patients, customers, and stakeholders.

Positive

• Appointment of Alex Wilkes as President, bringing extensive optical industry experience
• Smooth leadership transition with Patrick Moore shifting to an advisory role
• Strategic focus on accelerating business transformation for profitable growth

Negative

• Retirement of Patrick Moore, long-serving COO and former CFO, potentially impacting operational continuity

Patrick Moore to Retire as Chief Operating Officer

DULUTH, Ga.--(BUSINESS WIRE)-- National Vision Holdings, Inc. (NASDAQ: EYE) today announced the appointment of Alex Wilkes as National Vision’s President, reporting to Reade Fahs, Chief Executive Officer of National Vision, effective August 19, 2024. This follows the Company’s announcement on July 1, 2024 of Mark Banner joining the Company as Chief Stores Officer.

Wilkes joins National Vision from CooperVision, a global leader in contact lenses, where he served as President of the Americas. Prior to CooperVision, Wilkes spent over a decade at EssilorLuxottica, a leading global eyewear company, in various roles including as Senior Vice President and General Manager of Pearle Vision, where he was responsible for oversight of the brand.

Fahs said, “We are excited to welcome a leader of Alex’s caliber to National Vision. His depth of experience across all areas of the optical industry, proven track record driving sales and profit growth and strategic acumen make him an ideal fit as our President. As President, Alex will work closely with all areas of our business to help accelerate our transformation to drive profitable growth, while sustaining the Company’s culture and values that truly make us who we are. I look forward to working closely with Alex as we continue to deliver value to our patients, customers and stakeholders.”

Wilkes stated, “Having watched the growth of National Vision for many years, I see enormous potential to continue to scale the company and provide ever more value with our existing customer base, and I am excited to join the Company at this time in its transformation. I feel a strong alignment to the culture and values of National Vision and I look forward to getting to know the associates and doctors who are delivering great care and service to patients and customers across the nation.”

National Vision today also announced that Patrick Moore, the Company’s Chief Operating Officer and former Chief Financial Officer, has shared his plans to retire at the end of this year. Moore will remain in his role until August 19, 2024, at which time he will shift to an advisory role focused on supporting the leadership transitions.

“I am deeply grateful for Patrick’s partnership, friendship and countless contributions as a core member of our leadership team over the last 10 years,” said Fahs. “Patrick has been instrumental in leading several business transformation efforts, beginning with our IPO in 2017. In his tenure as COO, he has implemented an operational rigor that will enable us to continue to execute against our strategic initiatives. And what will perhaps be Patrick’s most enduring contribution is his dedication to mentorship, which has inspired a strong bench of leaders across National Vision. His deep understanding of our business and strategy has positioned us for long-term success, and his willingness to remain with us to ensure a smooth transition is evidence of his leadership.”

“National Vision has a tremendous impact on millions of people, and it has been the highlight of my career to help lead this company and work alongside our talented team. Over the course of my time here, our business has grown exponentially, and I am incredibly proud of all we have done to become an industry leader. I look forward to welcoming both Alex and Mark and watching the Company's continued success,” said Moore.

Separately, today the Company is releasing its second quarter 2024 earnings results which will be available on the Company’s website.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934. These statements include statements related to our current beliefs and expectations regarding the performance of our industry, the Company’s strategic direction, market position, prospects and future results. You can identify these forward-looking statements by the use of words such as “outlook,” “guidance,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Caution should be taken not to place undue reliance on any forward-looking statement as such statements speak only as of the date when made. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Forward-looking statements are not guarantees and are subject to various risks and uncertainties, which may cause actual results to differ materially from those implied in forward-looking statements. Information about factors that could cause National Vision’s results to differ materially from those described in the forward-looking statements can be found in filings by National Vision with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the fiscal year ended December 30, 2023, under the caption “Risk Factors,” and subsequently filed reports, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our filings with the SEC.

About National Vision Holdings, Inc.

National Vision Holdings, Inc. (NASDAQ: EYE) is one of the largest optical retail companies in the United States with over 1,200 stores in 38 states and Puerto Rico. With a mission of helping people by making quality eye care and eyewear more affordable and accessible, the company operates four retail brands: America’s Best, Eyeglass World, and Vista Opticals inside select Fred Meyer stores and on select military bases, and an e-commerce website DiscountContacts.com, offering a variety of products and services for customers’ eye care needs. For more information, please visit www.nationalvision.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240807421811/en/

Investor Contact:

investor.relations@nationalvision.com

National Vision Holdings, Inc.

Tamara Gonzalez



ICR, Inc.

Caitlin Churchill



Media Contact:

media@nationalvision.com

National Vision Holdings, Inc.

Racheal Peters

Source: National Vision Holdings, Inc.

FAQ

When will Alex Wilkes start as President of National Vision (EYE)?

Alex Wilkes will start as President of National Vision (EYE) on August 19, 2024.

What is Patrick Moore's current role at National Vision (EYE) and when will he retire?

Patrick Moore is currently the Chief Operating Officer at National Vision (EYE). He plans to retire at the end of 2024, transitioning to an advisory role on August 19, 2024.

Who appointed Mark Banner as Chief Stores Officer at National Vision (EYE) and when?

National Vision (EYE) appointed Mark Banner as Chief Stores Officer on July 1, 2024.

What is National Vision's (EYE) strategy behind these leadership changes?

National Vision (EYE) is implementing these leadership changes as part of its transformation strategy to drive profitable growth while maintaining its culture and values.