Pacific Sunwear of California, Inc. dropped the 'interim' from Sally Frame Kasak's CEO title, adding chairman in the process. Kasaks had been serving as Interim Chief Executive Officer since October 2006, and has been a director of the company since 1997.
Peter Starrett, lead director of Pacific Sunwear's Board, said: “The board is delighted that Sally has accepted our offer to become Chairman and CEO of Pacific Sunwear. She has done an outstanding job as Interim CEO over the last eight months, providing a clear direction to our Company and energizing our associates. On behalf of the board and our shareholders, we thank Sally and look forward to her continued success.”
Kasaks will continue to lead all facets of Pacific Sunwear's business that is comprised of three unique retail concepts — PacSun, demo and One Thousand Steps. Kasaks and the company have executed an employment agreement that extends through the completion of the company's fiscal year ending January 31, 2010.
Said Kasaks: “I am pleased to accept the CEO role and look forward to working with our team as we continue to execute our business strategies. While I believe that we are headed down the right path, and we have demonstrated significant progress, much work still needs to be done. My recent role as Interim CEO has given me even greater knowledge of the Company, its management team and associates, and our retail concepts. I look forward to leveraging the Company's strengths as a leading specialty apparel Company to deliver an excellent in-store experience for our customers and improve comparable store performance through increased productivity.”
Kasaks, 62, has had a distinguished career that includes serving as chairman and CEO of Ann Taylor Stores, Inc. (1992 to 1996); president and CEO of Abercrombie and Fitch (1989 to 1992) and chairman and CEO of The Talbots, Inc. (1985 to 1988). Kasaks still serves as a director of The Children's Place, Inc. and Crane & Co.