Five Below, Inc. Announces Election of Bernard Kim to its Board of Directors

Rhea-AI Summary

Five Below, Inc. (NASDAQ: FIVE) appointed Bernard Kim as an independent director to its board, effective immediately. Kim, CEO of Match Group, brings significant experience from Zynga and Electronic Arts. This expansion increases the board to 11 directors. Tom Vellios, Co-Founder and Chairman, expressed excitement over Kim's potential contributions, particularly in enhancing digital strategies. Kim acknowledged Five Below's growth and unique value proposition, looking forward to collaborating on key initiatives for success.

Positive

• Bernard Kim's extensive experience in digital technology and entertainment, potentially beneficial for Five Below's growth.
• The board's expansion to 11 directors could bring fresh perspectives and strategic insights.

Negative

• None.

PHILADELPHIA, PA, June 14, 2022 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced the election of Bernard Kim as a new independent director to its board of directors, effective immediately. Mr. Kim is the Chief Executive Officer of Match Group, Inc., a leading provider of digital technologies designed to help people make meaningful connections, and brings to the board senior leadership experience with growing technology companies including Zynga and Electronic Arts, both global leaders in digital interactive entertainment. With the addition of Mr. Kim, the board is expanded to 11 directors.

"We are excited to welcome Bernard to our Board of Directors," said Tom Vellios, Co-Founder and Chairman of Five Below. "Bernard’s background creating digital experiences for customers that foster strong brand loyalty with an element of fun will be valuable as we continue to execute on the substantial long-term growth opportunity that exists for Five Below."

“I am excited to join the board of Five Below, one of the highest growth retailers in the United States,” said Bernard Kim. “I’m impressed with Five Below’s unique value proposition. I look forward to working with the Board and the management team on key initiatives to help accelerate their digital strategies and set them up for continued success.”

About Five Below:
Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by tweens, teens and beyond. We believe life is better when customers are free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced between $1 and $5, and some extreme value items priced beyond $5 in our incredible Five Beyond offering, Five Below makes it easy to say YES! to the newest, coolest stuff across eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and New & Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 1,200 stores in 40 states. For more information, please visit https://www.fivebelow.com or find Five Below on Instagram, TikTok, Twitter and Facebook @FiveBelow.

Investor Contact:
Five Below, Inc.
Christiane Pelz
Vice President, Investor Relations & Treasury
215-207-2658
Christiane.Pelz@fivebelow.com 

FAQ

Who is Bernard Kim and what is his role at Five Below?

Bernard Kim is the newly appointed independent director at Five Below, effective immediately.

What experience does Bernard Kim bring to the Five Below board?

He is the CEO of Match Group and has leadership experience with technology companies like Zynga and Electronic Arts.

How does Bernard Kim's appointment impact Five Below?

His experience in digital strategies may help accelerate Five Below's growth and enhance customer engagement.