Teen apparel retailer Wet Seal Inc. disclosed that John D. Goodman, who had been CEO since January 2013, resigned Aug. 26.
Edmond S. Thomas, who was Wet Seal president and CEO from 2007 to 2011, has replaced Goodman.
The company has seen its share price decline 61.5% this year.
Struggling retailer Wet Seal has made several moves recently to shake things up, adding members to the board with retail and tech expertise and closing down its Arden B. brand. The retailer earlier this year received kudos from hedge fund The Clinton Group for the progress it had made in its turnaround. But its share price decline and Goodman’s departure signal that there’s more to be done.