Destination XL Group, Inc. (NASDAQ: DXLG) announced the appointment of James E. Olsson as Executive Vice President and Chief Growth Officer, effective September 6, 2026. The appointment was made by the Board of Directors and is effective immediately following the filing of the Form 8-K on September 2, 2026.
Mr. Olsson will be responsible for accelerating the Company’s integrated-commerce growth strategy. In this role, he will oversee direct businesses, retail stores, merchandising, planning, global sourcing, and brand strategy. The Company stated that Mr. Olsson will focus on bolstering DXL’s leadership position in the Big + Tall men’s apparel market.
Mr. Olsson brings over two decades of experience in senior executive and merchandising leadership. Prior to joining Destination XL, he served as a consultant to the Company from September 2025 to September 2026. During that period, he provided strategic advisory services focused on growth opportunities. Previously, he served as Chief Growth Officer and General Manager at Tommy John, Inc., and was the Chief Executive Officer and co-founder of Todd Snyder, leading the business through its acquisition by American Eagle Outfitters, Inc.
The Company entered into an employment agreement with Mr. Olsson through its subsidiary, CMRG Apparel, LLC. Under the agreement, Mr. Olsson will receive an annual base salary of $475,000. He is also eligible for a one-time signing cash award of $100,000, payable on December 11, 2026, provided he remains an employee in good standing.
In addition to the cash award, Mr. Olsson will receive a one-time grant of Restricted Stock Units (RSUs) valued at $250,000. The number of RSUs granted will be determined based on the closing price of the Company’s stock on the last trading day prior to the Effective Date. These RSUs will vest in three equal annual installments beginning on September 6, 2027.
Mr. Olsson is also eligible to earn an annual bonus under the Company’s Annual Incentive Plan, with a target equal to 60% of his annual base salary. The bonus range is between 50% and 150% of the target. Furthermore, he will participate in the Company’s Long-Term Incentive Plan at a target incentive rate of 90% of his base salary. The agreement includes standard confidentiality, non-disclosure, non-competition, and non-solicitation covenants.
