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Talbots says CEO Zetcher plans to retire

Mon Feb 12, 2007 2:20pm EST

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Feb 12 (Reuters) - Clothing retailer Talbots Inc. (TLB.N) said on Monday that its Chairman and Chief Executive Arnold Zetcher plans to retire in early 2008, after leading the company for 20 years.

Talbots has appointed a special search committee to select a successor and has hired executive search firm Heidrick & Struggles to assist the panel, the company said.

Zetcher will continue to serve as CEO through the end of the current fiscal year ending Feb. 2, 2008 and as Chairman through March 2008.

"I look forward to continuing to oversee the company through 2007 or until a successor is in place." Zetcher said in a statement.

Talbots shares were up more than 1.5 percent at $24.79 in midday trade on the New York Stock Exchange.

(Reporting by Jennifer Robin Raj in Bangalore)

((Editing by Anil Kumar; Reuters Messaging: aruna.jennifer.reuters.com@reuters.net; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800)) Keywords: TALBOTS CEO/

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