Mervyns President Steps Down

San Francisco, Rick Leto has resigned as president and chief merchandising officer of Mervyns LLC, effective immediately, the company said Tuesday.

No reason was given for Leto's departure, but in the announcement a Mervyns board member, Thomas Taylor, thanked him for three years' service to the company as it changed from a public to a private retailer.

Taylor will lead the search for a new president, which he said he hoped to complete quickly. Mervyns CFO, Chuck Kurth, will serve as interim president.