Microvast Holdings announces departure of chief financial officer
NEW YORK - Vince Holding Corp. (NYSE: VNCE), a global contemporary retailer with a market capitalization of $20.3 million, has officially appointed Yuji Okumura as its Chief Financial Officer as of Monday. Okumura, who has been serving as interim CFO since March 2025 and as Controller since September 2020, brings nearly two decades of experience in accounting and financial reporting to his new role. According to InvestingPro data, the company maintains healthy liquidity with a current ratio of 1.74, indicating strong short-term financial stability.
The announcement comes ahead of the company’s scheduled reporting of its fourth quarter and fiscal year 2024 financial results on May 2, 2025. With the stock currently trading at attractive valuations based on InvestingPro’s Fair Value analysis, investors are closely watching this earnings announcement. Vince Holding Corp. will also host a conference call on the same day to discuss the financial outcomes and may address additional business and financial queries. The company has demonstrated profitability over the last twelve months, with a gross profit margin of 48.2%.
Okumura joined Vince Holding Corp. in 2018 as Director of Financial Reporting and was promoted to Vice President, Controller in 2020. His prior experience includes over 11 years at KPMG US in public accounting, equipping him with a substantial background in financial disciplines pertinent to the company’s operations.
CEO Brendan Hoffman expressed confidence in Okumura’s abilities, emphasizing his strong financial expertise and leadership as key to the company’s future, particularly in the current challenging economic climate. Okumura himself committed to maintaining financial discipline and focusing on executing the company’s objectives.
The upcoming conference call will be accessible via phone and online, with a recording available on the company’s investor relations website for 12 months post-event.
Vince Holding Corp., known for its luxury apparel and accessories brand Vince, operates a network of full-price and outlet retail stores, an e-commerce site, and a subscription service, Vince Unfold. While the company has seen its revenue decline by 6.5% over the last twelve months, InvestingPro analysis reveals 12 additional key insights about the company’s performance and potential. For comprehensive analysis and detailed valuation metrics, investors can access the full Pro Research Report, available exclusively to InvestingPro subscribers. This information is based on a press release statement from Vince Holding Corp.
In other recent news, Vince Holding Corp. has made several significant announcements. The company reaffirmed its fourth quarter and full-year fiscal 2024 guidance, with plans to disclose results by April 25, 2025. However, a goodwill impairment analysis is underway due to a recent majority stock acquisition by a subsidiary of P180, Inc., which may result in a non-cash goodwill impairment charge. In a strategic move, P180 acquired a majority stake from Sun Capital Partners, Inc., reducing Vince’s debt by approximately $27 million. This acquisition leaves Vince Holding with about $7.5 million in outstanding subordinated loans. Additionally, Vince Holding has appointed Yuji Okumura as the Interim Chief Financial Officer, following John Szczepanski’s departure. The company also announced amendments to its corporate governance structure, updating procedures for appointing board members. These developments are indicative of Vince Holding Corp.’s ongoing efforts to streamline operations and strengthen its financial position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.