Ross Stores Inc. announced that Michael O’Sullivan, the company’s president and chief operating officer since 2009, has resigned from the company and its Board of Directors effective immediately to accept a position with another company.

In commenting, Barbara Rentler, chief executive officer, said, “Michael has made numerous valuable contributions to the growth and success of our business since he joined Ross in 2003. We thank him and wish him well in his future endeavors.”

Rentler continued, “Looking ahead, we are confident in our deep bench of highly talented senior executives. We believe that their proven leadership skills will continue to drive the successful execution of our off-price strategies and thus, maximize our ability to deliver ongoing increases in shareholder value.”

Rentler added, “Given Mr. O’Sullivan’s departure, we expect to make management changes that will be announced over the coming months. In the interim, Michael Hartshorn, the company’s group executive vice president, finance and legal and chief financial officer, and Mike Kobayashi, our group executive vice president, supply chain, merchant operations and technology will report directly to me. Additionally, Gary Cribb, our group executive vice president, stores and loss prevention, will report to Jim Fassio, president and chief development officer.”