Big 5 Sporting Goods Corporation is making changes in its finance and accounting department in order to improve the company's accounting and financial reporting, as well as the company's internal controls. Under this initiative, Big 5 will recruit and hire a new CFO with a strong background in U.S. generally accepted accounting principles and SEC financial reporting to be the company's principal financial and accounting officer. The new CFO will report directly to Steven Miller, Big 5’s president and CEO.

Charles Kirk has resigned his position as chief financial officer and treasurer, effective immediately. Mr. Kirk will stay with Big 5 as a senior vice president and a member of the company's senior management team.

Big 5 said they are undertaking these actions in light of the previously announced restatement of the company's prior financial statements and the ongoing review of those financial statements, as well as the demands of the current regulatory environment.

Until a new CFO is hired, Elizabeth Chambers, the company's acting controller, and Thomas Robershaw, the company's assistant treasurer, will jointly fulfill the functions of the company's principal financial and accounting officer. Ms. Chambers previously served as the company's assistant controller since 1993. Mr. Robershaw joined the company in 2002 as assistant treasurer.

The company said it does not expect that the change in Mr. Kirk's role will cause any additional delay in the completion of its previously announced restatement or the filing of its 2004 Annual Report and the 10-Q’s for the first and second quarters of fiscal 2005.