Christopher & Banks CEO resigns; chief merchant out

Minneapolis Christopher & Banks said Tuesday that its CEO Lorna Nagler has “resigned all positions with the company to pursue other interests” of Larry Barenbaum will serve as interim CEO while the company searches for a permanent top executive. He will continue in his role as chairman.

Christopher & Banks also said that effective immediately, chief merchandise officer Susan Connell is no longer with the retailer. Jules Rouse, who was general merchandise manager until 2008, will return to that position.

Nagler was hired as chief executive in August 2007 after serving as president of Lane Bryant. Connell, who had been general merchandising manager at Lane Bryant, joined Christopher & Banks as chief merchandising officer a couple months before Nagler arrived.

Nagler’s departure comes about three months after the company’s CFO Rodney Carter resigned.

Last month, Christopher & Banks reported its fiscal second-quarter loss widened as shoppers responded tepidly to new merchandise late in the quarter. Results for the company, which targets mostly women over 40 with above-average incomes, fell short of analysts' expectations.