Long-Time Board Member Frances P. Philip Announces She Will Not Be Standing for Re-Election at 2025 Shareholder Meeting

Core Viewpoint - Vera Bradley's long-time board member Frances P. Philip will not seek re-election at the 2025 Shareholder Meeting, marking the end of her 14-year tenure on the board [1][3]. Group 1: Board Member Contributions - Frances P. Philip joined the Vera Bradley Board in 2011 and has been a member of the Talent and Compensation Committee, as well as the Nominating, Governance and Sustainability Committee [2]. - She has served as the Lead Independent Director since 2022, providing insights from her extensive experience in product development, branding, marketing, and retail [2]. - Robert Hall, Chairman of the Board, acknowledged her strategic insight and expertise in merchandising and product development as significant contributions to the company's journey [3]. Group 2: Company Overview - Vera Bradley, based in Fort Wayne, Indiana, is a leading designer of women's handbags, luggage, travel items, fashion and home accessories, and unique gifts [4]. - The company was founded in 1982 and is recognized for its innovative designs, iconic patterns, and vibrant colors that resonate with women globally [4]. Group 3: Business Segments - Vera Bradley operates through two reportable segments: Vera Bradley Direct ("VB Direct") and Vera Bradley Indirect ("VB Indirect") [5]. - The VB Direct segment includes sales through full-line and outlet stores, as well as the company's websites and annual outlet sale [5]. - The VB Indirect segment consists of sales to approximately 1,200 specialty retail locations, select department stores, and third-party e-commerce sites, along with royalties from licensing agreements [5].