Kyees added, "The Board is working expeditiously to identify a successor with proven strategic and leadership skills and a strong track record of driving growth and building brands within the specialty retail space. We are pleased that we will continue to benefit from Mike's leadership and insight throughout this process."
Michael C. Ray Bio
Ray has served as Chief Executive Officer of Vera Bradley since October 2007, overseeing all day-to-day operations of the Company, and he has served as a director on the Company's Board since June 2010. Prior to his promotion to CEO, Ray held the position of Executive Vice President of Sales and Marketing from 2004 to 2007. He served as the Company's National Sales Director from 1999 to 2004 after joining Vera Bradley in 1998 as Director of Finance.
Over the course of his tenure at Vera Bradley, Ray spearheaded the Company's efforts to become a multi-channel business with broad demographic appeal; develop sourcing, distribution and warehousing infrastructure to support the growth of the Company; expand its retail footprint including entering the Japanese market; become a successful public company through an initial public offering in 2010; and achieve remarkable growth, with revenues increasing from approximately $18 million in 1998 to $541 million in fiscal 2013, and employees increasing from approximately 40 to 2,400.
After earning an accounting degree from Ball State University, Ray began his career at Coopers & Lybrand. Ray also serves as a board member of the Riley Children's Foundation in Indianapolis.
About Vera Bradley, Inc.
Vera Bradley is a leading designer of women's handbags and accessories, luggage and travel items, eyewear, stationery and gifts. Founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller, the brand's iconic designs and versatile styles offer women of all ages a colorful way to accessorize every look. Vera Bradley offers a unique, multi-channel sales model as well as a focus on service and a high level of engagement with fans. Fiscal 2013 net revenues increased 17% to $541 million. The company's commitment to breast cancer research continues to increase its reach through the Vera Bradley Foundation for Breast Cancer. For more information about Vera Bradley (Nasdaq:VRA), visit
Paul G. Blair
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