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Sears to spin off Lands’ End on April 4
New York -- Sears Holdings Corp. said its board has approved the spin on of its Lands’ End business, effective April 4, according to a filing with the U.S. Securities and Exchange Commission.
The agreement, which was announced in December, will make Lands' End an independent company that will trade on the Nasdaq under the symbol “LE.”
Sears stockholders on record as of March 24 will receive about 0.3 shares of Lands' End common stock for each share of Sears they own.
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The Wet Seal board member Mindy C. Meads exits
The Wet Seal board member Mindy C. Meads has resigned her spot to focus on her new role as CEO of Calypso St. Barth.
“Mindy has been a valued member of the board of directors and we wish her well in her future endeavors with Calypso St. Barth. Mindy’s leadership as chair of the Nominating and Corporate Governance Committee and her general contributions to the board were a value to the company and its shareholders,” said Lynda Davey, non-executive chairperson.
The body care collection includes lavender and honey blossom scented body lotion, hand cream and body wash, and is available at landsend.com.