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Coldwater Creek CEO leaves, replacement named

Coldwater Creek chief executive Griesemer leaves, Pence named replacement

  • On 10:35 am EDT, Monday September 14, 2009

SANDPOINT, Idaho (AP) -- Women's apparel retailer Coldwater Creek Inc. said Monday its CEO Daniel Griesemer left and said the company's co-founder and chairman will be his replacement.

Dennis Pence will add the duties of president and CEO, effective immediately.

He co-founded the company in 1984 and served as CEO from 1984 until 2000, and also from 2002 to 2007.

The company did not give a reason for Daniel Griesemer's departure.

Women's apparel retailers including Coldwater Creek have been among the hardest hit during the recession. In August the company reported a second-quarter loss as sales fell 7 percent.

Shares fell 38 cents, or 5.2 percent, to $6.93 in morning trading. The stock has traded between 91 cents and $8 over the past year.

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