Citi Trends Names Benjamin Faw Finance Chair, Extends Fund 1 Agreement by One Year
Effective February 19, 2026, Citi Trends’ Finance Committee chair Wes Calvert departed the board and independent director Benjamin Faw will succeed him. The company also extended its cooperation agreement and standstill provisions with Fund 1 Investments for an additional one-year term, maintaining shareholder alignment and governance stability.
1. Board Transition and Leadership Change
On February 19, 2026, long-standing Finance Committee chair Wes Calvert departed the Citi Trends board after a year of guiding disciplined capital allocation, oversight of long-range planning and strengthened financial rigor. His exit leaves the board with eight directors, seven of whom are independent, as the company continues its focus on governance.
2. Benjamin Faw Joins as Finance Committee Chair
Benjamin Faw was appointed as an independent director and immediately assumed the chair of the Finance Committee on February 19, 2026. Faw’s deep digital expertise and proven track record in consumer-facing value creation are expected to bolster Citi Trends’ modernization efforts and long-term growth strategy.
3. Fund 1 Cooperation Agreement Extended
Citi Trends exercised its right to renew its cooperation agreement, including standstill provisions, with Fund 1 Investments for an additional one-year term. The extension reflects continued alignment and constructive engagement with a key shareholder, reinforcing confidence in the company’s strategic execution and governance framework.