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CEO shake-up at Hot Topic
City of Industry, Calif. -- Hot Topic announced Monday that CEO Betsy McLaughlin has resigned the company, effectively immediately, and will be replaced by current board member Lisa Harper.
The move came two weeks after the company announced a fourth-quarter net loss, reversing a profit from a year ago, as revenue slipped by 1%.
According to the retailer, McLaughlin will continue to assist in the transition over the next three months. -
Wet Seal taps Gap veteran Seipel as president and COO
Foothill Ranch, Calif. -- The Wet Seal announced Monday that it has hired Ken Seipel as president and COO, effective March 28.
Seipel will report to CEO Susan P. McGalla.
Seipel was previously president and chief merchandise/marketing officer of Pamida Discount Stores LLC, a regional general merchandise discount retailer. Prior to that, he was executive VP of stores, operations and store design for the Old Navy division of Gap.