Sponsors
Billabong ▼ 0.000 | PPR ▲ +0.55 | American Apparel ▼ -0.013 | The Buckle ▼ -0.39 | Columbia ▲ +0.09 | Deckers Outdoor ▲ +0.26 | Dicks ▼ -0.02 | Foot Locker ▼ -0.18 | Genesco ▼ -0.06 | Iconix Brand Group ▼ -0.05 | Jarden Corp ▲ +0.15 | Nordstrom ▼ -0.15 | Luxottica ▼ -0.56 | Nike ▲ +0.51 | Pacific Sunwear ▼ -0.05 | Skullcandy ▼ -0.04 | Sport Chalet - 0 | Urban Outfitters ▼ -0.53 | VF Corp ▼ -0.01 | Quiksilver ▼ -0.01 | Zumiez ▼ -0.33 | Macys ▼ -0.37 | Tillys ▲ +0.05 |
Ticker Sponsor
Readers Say
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
The one, undisputed leader
The one, undisputed leader

It is common knowledge in our industry that there is one undisputed leader in reporting on the topics, businesses and trends that impact all of us the most, and it is shop-eat-surf.com. Their access to those who make our industry happen is second to none, and we value not only the content of their reporting but the editorial thought on what it all means both in the present as well as the future. If we were asked to give a rating, it would be five out of five stars.

- By Craig Levra, CEO, Sport Chalet
Industry Insight

MOSS ADAMS: Webinar 12/2 on internal controls to increase the value of your business.
AGENDA: 12/30 deadline to pre-register for Jan. 5-6 Long Beach show.
CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Edmond S. Thomas stepping down as CEO of The Wet Seal, Inc at the end of his contract

By
July 27, 2010 10:59 PM

Press Release:

FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--The Wet Seal, Inc. (Nasdaq:WTSLA - News) (the “Company”), a leading specialty retailer to young women, announced today that Edmond S. Thomas, its President, Chief Executive Officer and Director, has informed the Board of Directors of his decision to step down from these positions on October 8, 2010, the scheduled expiration date of his employment agreement. In the event that the Company has not identified a suitable successor by such date, Mr. Thomas has indicated his willingness to serve in a transitional role until such person is found. The Company will engage the services of an executive recruiting firm to assist in a search for Mr. Thomas’s successor.

On behalf of the Company’s Board of Directors, Harold D. Kahn, Chairman of the Board of Directors, commented: “Ed led The Wet Seal during a difficult economic period. He leaves us with a strong foundation and exceptional balance sheet. We look forward to working with Ed during the transition period following the end of his term. We also plan to seek Ed’s counsel in our deliberations to find a fitting successor.”

Mr. Thomas commented, “I am proud of the many accomplishments of The Wet Seal during my tenure, and am confident the leadership team in place has the skill and talent to drive the Company to future success.

Going forward, I will concentrate my efforts on helping the Board identify my successor and ensuring a smooth transition.”

About Wet Seal

Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. As of July 3, 2010, the Company operated a total of 503 stores in 47 states, the District of Columbia and Puerto Rico, including 425 Wet Seal stores and 78 Arden B stores. The Company's products can also be purchased online at www.wetseal.com or www.ardenb.com. For more company information, visit www.wetsealinc.com.


Articles You Might Have Missed