Jan 7 Women's clothing retailer Wet Seal Inc
appointed John Goodman as its chief executive, five
months after it fired its former CEO amid pressure from one of
its biggest shareholders to stem a slide in sales.
Wet Seal fired the then CEO Susan McGalla in July after the
company reported declining same-store sales for more than 11
Activist investor Clinton Group, Wet Seal's second-largest
shareholder, won control of the company's board last October,
and said it would focus on turning the business around.
Goodman, who has worked with Sears Holding Corp,
Gap Inc, Levi Strauss & Co, and Mervyn's, was
named an independent director in September.
Forty-eight-year-old Goodman's appointment is effective
immediately, Wet seal said in a statement.
The Foothill Ranch, California-based company's shares closed
at $2.70 on Monday on the Nasdaq.