US: Wet Seal appoints Goodman as CEO
Goodman has 25 years of apparel industry experience, at companies such as Gap, Levi's, Mervyn's and Bloomingdales.
"The committee conducted an extensive search since assuming control of the process after installation of the new board in October," said company chairman Lynda Davey.
"We found John's energy and passion for the fashion industry and, in particular, his understanding of the junior customer perfectly aligned with the attributes we were seeking in a chief executive officer.
"He is a team builder and has a proven record of success as a CEO; and expertise in the teen fashion apparel specialty business. As an active Wet Seal director, John has already developed a strong working relationship with the executive team. We feel certain that this will expedite the improvement in operating performance and the prospects for profitable growth."
The Wet Seal replaced three board members in October last year as it worked to settle a proxy battle with dissident shareholder Clinton Group.
The company recorded a third quarter loss in November, hit by legal costs, impairment charges and falling sales. It swung to a US$14.8m loss from a $3.7m profit a year earlier. Excluding the charges, net loss would have been $9.7m.
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