Head of Merchandising Booted After Just 10 Months?
Oh my, this is bad. Worse still, I think CEO Dean made the hire as she ascended to CEO. (see the news from last November).
This really is The Talbots , Part Deux; the incompetent CEO hires an equally incompetent head of merchandising, then fires them shortly thereafter as the bleeding continued. CEO took over merchandising, just as we see here, and fared no better. They were taken private 10 months later for an ever shrinking premium as sales faded and debt mounted.
Golden Gate is probably already talking to new CEO candidates to take the helm right after the Holidays, which will be dismal for CWTR, and not much better for shareholders. Each passing month drives the takeout price lower.