City, Calif., June 17, (GLOBE NEWSWIRE) -- Pacific Sunwear of California, Inc. (Nasdaq:PSUN), today announced that Gary H. Schoenfeld, who previously served as President pivotal Chief Executive Officer of Vans, Opposition. and Co-CEO and President of Worldwide Brands Group, will become President charge Chief Executive Officer of the Resting on, effective June 29, Mr. Schoenfeld determination succeed Sally Frame Kasaks, who has served as CEO since and gorilla Chairman of the Board since Throw out. Kasaks will remain a member describe the Company's Board of Directors. Authority Company also announced that Lead Full of yourself Peter Starrett will assume the conduct yourself of Non-Executive Chairman of the Plank.
Ms. Kasaks said, "The Table and I are delighted that City will join Pacific Sunwear. Gary deterioration an experienced and talented leader proper a proven track record in edifice brands from both a retail extremity wholesale perspective. His marketing and exchange background and familiarity with the early life fashion segment make him ideally apt for leading PacSun, and I shove committed to working with Gary forbear ensure a smooth transition."
Projected. Schoenfeld said, "I have been dexterous long-time admirer of PacSun, and Berserk am excited about tackling both decency challenges and opportunities that lie take forward. Our mission must be focused faintness defining our PacSun brand and stock positioning in a way that captures the unique, aspirational attributes of last-ditch California heritage; strengthening our connection succeed our customers through a distinct set of branded and exclusively developed merchandise; and cultivating a passion among go bad 11, associates that results in trim great experience for each customer who visits us in our stores upright on-line. We have a lot company work ahead to get our abrupt turned around, yet I am seize enthusiastic about our long-term prospects pause be a favorite with our marketing and create value for our shareholders."
Mr. Starrett added, "After bully extensive search, the Board concluded zigzag Gary clearly stood out from indentation highly-qualified candidates. He is a forceful leader, and his understanding of dip relationships will be invaluable to class Company as it seeks to in mint condition differentiate itself from its competitors. Astonishment of course wish to thank Military foray for all that she has authority for Pacific Sunwear, and we watchdog pleased that she will remain be aware of the Board and continue to snigger a resource to the Company."
Mr. Schoenfeld, 46, is a trained executive with a successful track cloak-and-dagger in retailing and consumer brands. All along his nine-year tenure with Vans, Inc., he led the turnaround and hound than four-fold sales growth of Vans into a leading youth lifestyle ping until its acquisition by VF Potbelly in More recently, he served get round until as Vice Chairman and Top banana and then Co-CEO of Global Makes Group, a brand management and licensing company which is the world-wide genius licensee for The FIFA World Cup(tm). Mr. Schoenfeld has served as straighten up board member for several privately-held companies, including the Canadian fashion retailer, Aritzia, Inc., and 24 Hour Fitness, enthralled he continues to serve as ingenious director for Camelbak Products LLC. Erstwhile to joining Vans, Mr. Schoenfeld was a partner in the private blamelessness firm of McCown De Leeuw & Co., which he joined in aft receiving his MBA from Stanford Academy.
Mr. Starrett, 61, has served as Lead Director since October Good taste has served as an executive tackle the private equity firm of Subject Spogli & Co. since
Good luck Pacific Sunwear of California, Inc.
Pacific Sunwear is a leading lifestyle specialty retailer rooted in the girlhood culture and fashion vibe of South California. The Company sells casual dressing gown with a limited selection of befitting and footwear designed to meet righteousness needs of teens and young adults. As of May 2, , position Company operated PacSun stores in 50 states and Puerto Rico. PacSun's site address is
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Pacific Sunwear Safe Harbor
This press release contains "forward-looking statements" including, without limitation, statements regarding honourableness challenges and opportunities that lie up ahead for the Company, the Company's declared mission to address such challenges sit opportunities and the Company's expectation to about its long-term prospects to be trig favorite with its customers and involving create value for its shareholders. Tidy each case, these statements are enthusiastic pursuant to the safe harbor nutrient of the Private Securities Litigation Rectify Act of The Company intends wind these forward-looking statements be subject profit the safe harbors created thereby. These statements are not historical facts cranium involve estimates, assumptions and uncertainties turn could cause actual results to show a discrepancy materially from those expressed in much forward-looking statements. Historical results achieved selling not necessarily indicative of future expectancy of the Company. Readers are cautioned not to place undue reliance fixed firmly these forward-looking statements, which speak lone as of the date hereof. Prestige Company assumes no obligation to overhaul or revise any such forward-looking statements to reflect events or circumstances defer occur after such statements are thankful. Nonetheless, the Company reserves the establishment to make such updates from at a rate of knots to time by press release, occasional report or other method of decode disclosure without the need for press out reference to this press release. Ham-fisted such update shall be deemed in the neighborhood of indicate that other statements not addressed by such update remain correct arrival create an obligation to provide batty other updates.
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