James Olsson Takes Over as Destination XL’s Chief Growth Officer

James E. “Jimmy” Olsson becomes Destination XL Group’s executive vice president and chief growth officer on September 6, moving from a year-long consulting assignment into a newly created senior role with responsibility across much of the retailer’s commercial operation. The board appointed Olsson on September 2, and his employment agreement makes the new position effective four days later.

DXL said in its appointment announcement that Olsson will oversee the company’s direct businesses, retail stores, merchandising, planning, global sourcing and brand strategy. The scope puts stores, digital channels and key product functions under the same growth executive at a time when the specialty retailer is trying to improve performance and adapt to shifts in its Big + Tall customer base.

Olsson’s brief spans stores, digital and product

The job is broader than a conventional marketing post. Destination XL operates DXL Big + Tall and outlet stores, Casual Male XL locations, an e-commerce site and a mobile app, and the company describes its business as an integrated-commerce model. Giving the new growth chief authority over both customer-facing channels and merchandise planning creates a role that can influence what DXL sells, how inventory is allocated and how shoppers encounter the brand across stores and online.

Olsson, 59, already knows the business from the inside. He began consulting for DXL in September 2025 on growth opportunities, initially on a 20-hour-per-week arrangement and later on a 30-hour-per-week basis. That consulting period ended September 5, immediately before his employment agreement took effect.

His earlier career also centers on apparel, merchandising and omnichannel retail. Olsson was chief growth officer at Outerknown and later served as chief growth officer and general manager at Tommy John on a full-time advisory basis. He previously led an e-commerce apparel business at Walmart, served as president and chief executive officer of Rip Curl North America, and held senior roles at Coach, American Eagle Outfitters and Gap. He also co-founded Todd Snyder and led the company through its acquisition by American Eagle Outfitters. Since February 2024, he has been a partner at Girder NYC, the strategic advisory group he founded.

The employment package ties pay to growth and performance

DXL’s September 2 SEC filing sets Olsson’s annual base salary at $475,000. He is eligible for an annual target bonus equal to 60% of salary earned during the fiscal year, with the actual award depending on performance goals established by the board’s compensation committee. The agreement also makes him eligible for the company’s long-term incentive plan at a target rate of 90% of base salary at the outset.

His signing package includes restricted stock units valued at $250,000 and a $100,000 cash award. The stock units are scheduled to vest in three equal annual installments beginning September 6, 2027. The cash payment is due December 11, 2026, provided Olsson remains employed and in good standing on that date.

The filing also shows how the consulting relationship expanded before the appointment. DXL said Olsson received consulting fees and expenses totaling $111,359.92 in fiscal 2025 and $242,905.88 in fiscal 2026. His monthly compensation rose from $25,000 for the 20-hour weekly schedule to $37,500 after the engagement increased to 30 hours a week. DXL separately reimbursed $28,000 of legal fees connected with negotiating and finalizing the employment agreement.

Olsson’s primary work location will be New Rochelle, New York, but the agreement calls for regular time at DXL’s Canton, Massachusetts headquarters. He is expected to be there for at least two days per visit during at least three weeks of each month, subject to business travel, vacation and illness.

The appointment lands during a broader leadership transition

Olsson joins the executive team less than a month after chairman Lionel Conacher became interim chief executive officer on August 12. Conacher succeeded Harvey Kanter, whose retirement became effective August 11, and DXL has said its board is conducting a search for a permanent chief executive. The appointment of a growth chief gives the company another senior operator with direct retail and merchandising experience while that search continues.

The business backdrop is challenging. In the first quarter of fiscal 2026, DXL reported sales of $103.3 million, down 2.1% from a year earlier, while comparable sales fell 3.8%. The company posted a net loss of $5.9 million, compared with a $1.9 million loss in the prior-year quarter. Management said the April slowdown reflected pressure on consumer confidence and discretionary spending and also said GLP-1 and similar weight-loss medications were contributing to structural changes in demand within the Big + Tall category.

DXL is also still bound by its merger agreement with FullBeauty Brands even after its board changed its recommendation on the proposed merger. The board said in July that the merger on its existing terms was no longer advisable or in the best interests of DXL stockholders, citing the consumer environment, FullBeauty’s indebtedness and potential dilution. On August 19, the companies amended the merger agreement to extend its end date from September 11 to October 30, 2026. Olsson’s employment agreement specifically states that a merger between DXL and FBB Holdings or their affiliates will not count as a change of control for purposes of his agreement.

The next scheduled financial update comes quickly. Destination XL plans to report second-quarter fiscal 2026 results before the market opens on September 9, with Conacher and Chief Financial Officer Peter Stratton due to host a conference call at 9:00 a.m. ET. Those results will provide the first fresh operating snapshot after Olsson formally steps into the new role.