Stein Mart names interim CEO

JACKSONVILLE, Fla. — Stein Mart announced the appointment of Jay Stein as interim CEO, effective immediately, following the retirement of David Stovall, Jr., who has held that position since 2008.

"On behalf of the board, I want to thank Dave for his service to Stein Mart over the last three years, and in particular, his accomplishments in returning the Company to solid profitability," said Jay Stein, chairman of the board of Stein Mart. "We wish him many happy years of well-earned retirement."

The company also announced the formation of a search committee of the board of directors led by Robert Mettler who serves as chair of the strategic planning committee of the board.

Stein continued, "We have a wonderful set of strengths that give us a solid foundation for future growth. These include our tremendously loyal customer base, strong financial position, and most of all, a talented management team. I am enthusiastic about deepening my engagement with our senior leaders to move forward with our growth initiatives."