The Wet Seal, Inc. (WTSLA) announced it has entered into an employment contract with John Goodman to serve as its new Chief Executive Officer or CEO through January 30, 2016.
The company said that Goodman will assume his position as CEO on January 7, 2013. He initially joined the Company as a member of the board of directors on September 18, 2012.
Commenting on Goodman, the company said he is a well respected apparel industry executive with over 25 years of experience at well known companies such as Gap, Inc., Levi Strauss & Co., Mervyn's, and Bloomingdale's. From 2008 to 2009, while he led the turnaround at Charlotte Russe, a publicly traded junior retailer with sales of over $800 million, the stock price more than doubled. Most recently, Goodman served as Executive Vice President, Chief Apparel and Home Officer, Sears Holdings, overseeing both the Sears and Kmart brands.
Wet Seal stated that a committee of the company's board of directors oversaw the search for a new CEO.
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