Smith Replaces Webb as CEO of Jo-Ann Stores

Jo-Ann Stores said Monday that Travis Smith was promoted to CEO effective immediately. Smith is replacing Darrell Webb, who became interim CEO of Sports Authority today after David Campisi resigned. Webb will retain his position as chairman of Jo-Ann’s board. Jo-Ann and Sports Authority are both owned by Leonard Green & Partners.

PRESS RELEASE

Jo-Ann Stores, Inc., the leading fabric and craft specialty retailer in America, today announced the promotion of Travis Smith to chief executive officer effective immediately, replacing Darrell Webb. Webb will retain his position as chairman of the board for Jo-Ann Stores and become the interim chief executive officer of Sports Authority. Jo-Ann and Sports Authority are both owned by Leonard Green & Partners, L.P.

“Travis’ promotion is the final step of a multi-year succession plan that has fully equipped him to continue the outstanding business results our company has achieved over the past five years,” said Webb. “I have thoroughly enjoyed working with the Jo-Ann team and look forward to continuing to serve as the chairman of the board.”

“We extend our congratulations to Travis on his well-earned promotion. We thank Darrell for his ongoing leadership at Jo-Ann and future contributions to Sports Authority,” said Todd Purdy, partner, Leonard Green & Partners, L.P.

Smith has risen quickly through the Jo-Ann organization, culminating most recently with a promotion to president in February, 2010. Prior to that appointment, he served as chief operating officer, as well as executive vice president of merchandising and marketing. Smith joined the Jo-Ann team in July, 2006.

“I am honored to lead Jo-Ann as we continue to deliver on our strategic vision. We have a strong and dedicated team that is passionate about our customers and meeting their needs,” said Smith. “We are all thankful to Darrell for his leadership and we look forward to his continued guidance as our chairman of the board.”

Prior to joining Jo-Ann, Smith was senior vice president of general merchandise for Fred Meyer, a division of The Kroger Company. He holds a bachelor’s degree in business marketing and communications from the University of Notre Dame. Smith and his wife, Debbie, reside in Hudson, Ohio, with their three children. Smith is active in the community through educational support, his faith, and youth athletics.

About Jo-Ann Stores, Inc.
Jo-Ann Fabric and Craft Stores, the nation’s largest fabric and craft retailer with locations in 48 states, was founded in 1943 as a single retail store. Today, more than 750 Jo-Ann stores across the country provide consumers with creative inspiration. For additional information, visit www.Joann.com.

About Leonard Green & Partners, L.P.
Leonard Green & Partners, L.P. is a leading private equity firm with over $9 billion of equity capital under management. Based in Los Angeles, the firm invests in market leading companies across a range of industries. Significant current retail investments include The Sports Authority, Jo-Ann Stores, J. Crew, Whole Foods Market, Neiman Marcus Group, PETCO Animal Supplies, Leslie’s Poolmart, The Container Store, David’s Bridal, Jetro Cash and Carry, and The Tire Rack.