Sponsors
Billabong ▼ -0.010 | PPR ▲ +1.05 | American Apparel ▲ +0.008 | The Buckle ▼ -0.07 | Columbia ▼ -0.49 | Deckers Outdoor ▼ -0.13 | Dicks ▼ -0.15 | Foot Locker ▲ +0.12 | Genesco ▼ -2.64 | Iconix Brand Group ▲ +0.13 | Jarden Corp ▲ +0.16 | Nordstrom ▼ -0.39 | Luxottica ▲ +0.57 | Nike ▼ -0.27 | Pacific Sunwear ▼ -0.22 | Skullcandy ▲ +0.09 | Sport Chalet - 0 | Urban Outfitters ▲ +0.02 | VF Corp ▲ +0.30 | Quiksilver ▼ -0.02 | Zumiez ▲ +0.20 | Macys ▼ -0.07 | Tillys ▼ 0.00 |
Ticker Sponsor
Readers Say
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
Always a good daily read
Always a good daily read

Shop-Eat-Surf creates a good source of timely information about the industry. The site makes all types and size companies feel part of a community where everyone is stoked to hear about other companies successes and ideas. It is always a good daily read.

- By Ted Li, VP of North America, Oakley
Industry Insight

AGENDA: Video recaps, 2015 show dates, "Love Made Me Do It" women's networking series on Wednesday.

STOKES ME: Deadline today to enter SIMA Humanitarian Fund's Bowl-a-thon fundraiser.

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