Fashion retailer The Wet Seal Inc is losing its chief financial officer John Luttrell to Old Navy, a division of Gap Inc, where he will take up a similar post.

The Foothill Ranch, California-based company has appointed Steve Benrubi, currently vice president and controller, as its new executive vice president and chief financial officer with effect from 21 September.

The Wet Seal operates 375 Wet Seal stores and 92 Arden B stores.