Department store operator The Gymboree Corporation has today (21 July) announced a resignation and two board changes.

Lisa Harper, chairman and chief creative officer of the company, has retired, CEO Matthew McCauley has been named chairman of the board, and board member John Pound has been designated as lead director for the independent directors.
 
McCauley said: "We are grateful for the significant turnaround that Gymboree has achieved under Lisa's leadership, and we are fortunate to be supported by such a talented group of merchants and designers led by President Kip Garcia.

"His seasoned team will continue carrying on the tradition of creating the best fashion and highest quality children's apparel in the marketplace."
 
The company will incur a one-time pre-tax charge of approximately US$3.4m ($0.07 per diluted share) in the second fiscal quarter of 2006, following Harper's retirement. Full-year 2006 earnings are now expected to be in the range of $1.35 - $1.38 per diluted share.