Urban apparel retailer on hunt for a new CEO

The chief executive of Citi Trends has resigned after two years on the job.



The value-oriented fashion retailer said that Jason Mazzola has resigned as CEO and director “to pursue another opportunity.” It named retail veteran Bruce Smith, currently Citi Trends COO and CFO, as acting chief executive officer, and Ed Anderson as executive chairman, effective immediately.



Prior to joining Citi Trends in 2007, Smith served as CFO and executive VP of Hancock Fabrics Inc. Prior to that, he served as CFO and executive VP of discount retailer Fred’s Inc.



Citi Trends, which operates 538 stores in 31 states, has started a formal search process to identify a permanent CEO. Smith, who will continue to serve as COO and CFO during the search process, will work closely with Anderson to manage Citi Trends’ operations and advance the company’s long-term business strategy.



Anderson has served as a Citi Trends director since 2001 and as chairman since May 2006. He served as CEO of the company from 2001 to April 2009 and returned to that position from January 2012 to March 2015.



“I look forward to working closely with Bruce, who has demonstrated an important range of skills and insights during his 10 years with the company, and the rest of the leadership team to create immediate and lasting value for our stockholders, customers and employees,” said Anderson. “We have begun a search for a permanent CEO, and will, of course, strongly consider Bruce for this role given his qualifications and excellent service to the company over the years.”