Stewart Glendinning will replace Timothy Baxter as CEO of clothing company Express on September 15, the company announced.

Mylle Mangum, chairperson of the Express Board, said Thursday in a statement that “(Glendinning) is the right person to reinvigorate performance and build the strongest possible foundation on which Express can succeed.” The Company will benefit from his fresh thinking and our strategies for profitable growth since he is a highly accomplished executive. According to Stewart, Express must further improve its operational efficiency and practice greater financial discipline in order to deliver significant, sustainable shareholder value.”

In 2023, Glendinning will bring his expertise in financial operations to an apparel and accessories brand struggling financially. In March, the company was notified by the New York Stock Exchange it was in danger of being delisted because it did not satisfy the requirement requiring “listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading days,” Express said.

Express has an outstanding portfolio of brands, a high-potential partnership with (management firm WHP Global), and a premier omnichannel platform, Glendinning said. As we focus on execution and cost discipline, I am confident we can better capitalize on these differentiators, increase our financial strength and increase shareholder value.”

This year, Express (EXPR) has maintained its spot on the NYSE and acquired e-commerce menswear retailer Bonobos, which exceeded sales expectations, but its operating results so far have been subpar.

After Express released its second-quarter results, Baxter resigned one day after its net sales of its Express brand and its lifestyle line UpWest decreased 15% compared to last year. In 2022, Express reported a net income of $7 million, compared to a net loss of $44.1 million in 2019. Retail sales in the company’s stores were down 21%, and e-commerce sales were down 1%.