GIANT GROUP, LTD. (NYSE: GPO) announced today that Periscope Sportswear, Inc. a wholly owned subsidiary of GIANT, has terminated the employment of Glenn Sands as President and Chief Executive Officer of Periscope.GIANT also announced that Periscope has appointed Ralph Stone as Chief Executive Officer of Periscope.Scott Pianin, a long time senior executive of Periscope, was named President.