Ross Stores announced a board chair transition, with Michael Balmuth stepping down as executive chairman on January 31, 2026, retiring from the board and serving as senior advisor through March 31, 2026.
K Gunnar Bjorklund, current lead independent director, will become board chair on February 1, 2026.
Leaders praised Balmuth’s three-decade legacy and Bjorklund’s industry expertise.
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