Delia's begins search for new CEO

US: Delia's begins search for new CEO

By Leonie Barrie | 8 January 2013

Delia's Inc, the retailer that sells clothing for teenage girls and young women, has begun a search for a new chief executive officer ahead of the departure of current CEO Walter Killough later this year.

The retailer said the decision not to renew Killough's employment agreement was reached by mutual consent.

The agreement was due to expire on 2 August, but it is now expected that he will depart from Delia's at the beginning of April. He may stay on beyond this if a new CEO has not been named.

Company chairman Carter Evans said: "Walter has been a great leader, following through on our strategic initiatives and positioning Delia's on the right course to profitability."

The retailer, which operates the Delia's and Alloy teen clothing brands, in November reported a narrowed third-quarter loss of US$2m thanks to a 2.4% rise in comparable store sales and higher merchandise margins.

Sectors: Apparel, Finance, Retail

Companies: Delia’s Inc