Torrid Holdings Inc. announced appointment of Liz Muñoz to a new role as Chief Creative Officer. In conjunction with these organizational changes, Torrid announced that Michael Shaffer, former CFO of PVH Corp., has joined the Board of Directors as an independent member and chair of the Audit Committee. Chinwe Abaelu, Senior Vice President, Chief Accounting Officer, will serve as Principal Financial Officer from now until a new CFO joins Torrid.

Mr. Shaffer joins the Torrid Board of Directors' Audit Committee as its Chair, serving alongside Theo Killion, the lead independent director, and Valeria Rico, also an independent director. Ms. Muñoz served as Torrid's CEO from August 2018 through April 2022. In connection with the transition to her new role, she has stepped down as a member of the Torrid Board of Directors.

She previously served as Torrid's President and before that as Senior Vice President of Product. Chinwe Abaelu has served as our Senior Vice President, Chief Accounting Officer since March 2022. Ms. Abaelu's scope of responsibility includes Internal and External Financial Reporting, Internal Audit, Tax, and Accounting.

Ms. Abaelu was Sr. Vice President, Finance from August 2021 to March 2022 and served as Vice President, Finance from April 2018 to July 2021. Mr. Shaffer joined PVH in 1990 as a Financial Budget Manager and over the next 30 years worked his way up through the organization, gaining valuable experience and insights into both financial and business operations. He held various roles, including Director of Accounting Operations, Vice President and Controller, Senior Vice President of Operations, and Executive Vice President, Chief Operating Officer and Chief Financial Officer.