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The Wet Seal board makes changes
The Wet Seal board has decided to reduce the cash compensation for its directors by 20% for the remainder of fiscal 2014 and to reduce the number of director nominees to be elected at its upcoming annual meeting from nine to seven.
“By reducing director compensation and the number of directors nominated for election at our 2014 annual meeting, the board is doing its part to ensure it can respond quickly to issues as they arise and support the cost reduction efforts already taken by management,” said non-executive chairperson Lynda Davey.
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RBM Technologies names new president; closes $9.5 million in financing
Cambridge, Mass. – Retail visual merchandising solution provider RBM Technologies has named E.Y. Snowden its new president and CEO. Snowden was previously CEO of Boston Communications Group and president of APC/Sprint Spectrum.
In addition, RBM has closed a $9.5 million round of growth equity financing led by Spring Lake Equity Partners. RBM plans to use the financing to enhance its products and enter the international mobile market and new retail verticals.