Mar 24, 2020
Party City appoints new CEO
Party City shared that its CEO Jim Harrison will transition to the new role of vice chairman effective April 1, 2020. Mr. Harrison will continue to serve as a director of the company. Succeeding Mr. Harrison as CEO will be Mr. Brad Weston who has served as president of PCHI and CEO of the Party City Retail Group. Mr. Weston has also been appointed to the Company’s Board of Directors.
As the new CEO of the Company, Mr. Weston brings 32 years of retail industry experience – including serving as CEO of Petco prior to joining Party City in July 2019. As Vice Chairman, Mr. Harrison will primarily focus on corporate development opportunities, while also partnering with Mr. Weston and Chief Financial Officer Todd Vogensen to provide counsel and assistance.
“We are grateful for Jim’s leadership and unwavering commitment to the business over the past 24 years,” said Norman Matthews, Chairman of the Board of Directors of Party City. “Jim’s strategic vision enabled the Company to grow both organically and through acquisitions, positioning Party City as an industry leader with further room to grow through our differentiated vertical model. We wish Jim all the best in this next chapter and are thrilled that we will continue to benefit from his insights and deep knowledge of our business. We look forward to working with Brad as he takes the reins of Party City.”
“Over the last two years, the Board and I have been focused on identifying the right individual with deep retail experience to lead our Company into its next chapter of growth,” said Mr. Harrison. “The Board and I felt that now is the appropriate time for me to transition. And in working with Brad over the last several months, it has become clear to us that he has the right skills, experience and understanding of our vertical model to lead the enterprise forward. I am incredibly proud of everything the Company and our talented employees have accomplished together, and I look forward to supporting Brad and Todd as they lead the organization forward.”
“I’m honored to be named the next leader of this incredible company,” said Mr. Weston. “Party City has a tremendous platform and our employees have an impressive entrepreneurial spirit. I look forward to working across the entire organization to further build a vertically integrated company across both wholesale and retail. I am excited to bring joy to consumers across the world and ensure that we are able to provide the full party experience to our customers.”