Wet Seal CEO resigns; former chief exec returns to helm

Foothill Ranch, Calif. – Wet Seal Inc. CEO John D. Goodman has resigned as CEO, less than two years after he joined the struggling teen retailer to turn around its business.



The company revealed in a regulatory filing Tuesday that Goodman resigned effective Aug. 26 from his post as CEO and a member of the board. Goodman will be succeeded by Edmond Thomas, 61, effective Sept. 8. Thomas previously served as president and CEO of Wet Seal from October 2007 to January 2011.



Most recently, Thomas was a partner at KarpReilly, a private investment firm focused on small to mid-size growth companies. He also sits on the board of women’s apparel retailer New York & Co. Inc.



The filing did not disclose any specific reason for the abrupt departure of Goodman, who joined Wet Seal in January 2013 to replace its prior CEO, who had been ousted a few months earlier amid falling sales.