Cache CEO Resigns
New York City, Cache Inc. said Thursday chairman and CEO Brian Woolf resigned for personal reasons, effective immediately, and will be replaced by president Thomas Reinckens.
Earlier this month, Cache said its December sales were weaker than expected, and lowered fourth-quarter expectations.
JCPenney CEO Named NRF Chair
Washington, D.C. The National Retail Federation (NRF) announced at its 97th Annual Convention and EXPO last week that Myron Ullman, III, chairman, president and CEO of JCPenney, will assume the role of chairman of the board and chairman of the executive committee.
In addition to Ullman’s appointment, Philip Francis, chairman and CEO of PetSmart, has been elected as first vice chairman of the board, chairman of the finance committee and treasurer. Meanwhile, chairman and CEO of Saks, Stephen Sadove, will take on the role of second vice chairman of the board.
Kip Tindell, chairman and CEO of The Container Store, was named chairman of the awards and nomination committee.
Each will serve a two-year term.
Pacific Sunwear Cuts Demo President
New York City, Pacific Sunwear of California Inc. is eliminating Lou Ann Bett’s position as division president of its Demo stores, which are in the process of being closed.
According to a Securities and Exchange Commission filing, Bett will leave the company March 15.
Bett joined Pacific Sunwear in 2005 from Limited Brands Inc., where she served as VP and general merchandise manager of Express Men’s stores. Limited sold its majority stake in the Express brand in July.
Early this month, Pacific Sunwear said it will close its 154 Demo stores as the result of a review of strategic alternatives for the urban-apparel brand. The company had already closed 74 underperforming Demo stores last May. The closures will be completed by May of this year.
Pacific Sunwear said Bett will be entitled to receive benefits under its executive severance plan.