Edmond Thomas, president and coo of the specialty retailer The Wet Seal, Inc. (Foothill Ranch, Calif.), has announced his resignation effective Oct. 13, 2000. The complex agreement reached on the termination of Thomas 'employment contract will result in a pretax charge to earnings in the third quarter of about $1.65 million, or approximately eight cents a share after the related tax benefit. No decision has been made on a successor, and Kathy Bronstein will continue as ceo.
Thomas had been responsible for the company's distribution systems, real estate, financial management, and information systems among other responsibilities. Each of these disciplines is now managed by a vicePresident he hired.
There has been a flurry of change on the executive level at the operator of 567 stores in 42 states, including Wet Seal, Contempo Casuals, Arden B and Limbo Lounge. In recent months, the company has hired Greg Scott as president of its Arden B division, Steven Cox as senior vp and gmm of The Wet Seal-Contempo division and Steven Strickland as vp-creative, marketing, store design, and visual merchandising.