Ramsden, who has been with the company since December 2008, will continue to serve as CFO until a replacement is found. As COO, he will help to manage the overall execution of the company’s long-term strategic plans.
FBR analyst Susan Anderson described the change as positive. “Given this and his experience with Abercrombie & Fitch, we think this move could potentially create a successor to Jeffries,” she said. “Even though investors may want an outsider, we think Ramsden is also a good choice,” she said, adding, “we believe [he is] the driving force behind current operational changes, and is well regarded by investors.”
The move comes days after the teen apparel retailer separated the roles of chairman and CEO, leaving Michael Jeffries at the helm, while naming former Sears boss Arthur Martinez non-executive chairman.
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