By  on September 12, 2007

John Luttrell, former executive vice president and chief financial officer of The Wet Seal Inc., resigned to take the same post at Gap Inc.'s Old Navy division, according to a statement from Wet Seal after the market closed Tuesday.

Old Navy's cfo position has been held by Patti Johnson. Gap couldn't be reached for comment regarding Luttrell's appointment.

Wet Seal appointed Steve Benrubi to succeed Luttrell. Benrubi is Wet Seal's vice president and controller, a position he has held since June 2005. Both Luttrell's resignation and Benrubi's appointment are effective Sept. 21.

Wet Seal announced Friday that it had picked Edmond Thomas to serve as chief executive officer, heading its turnaround efforts. Thomas previously served as president and chief operating officer at the company from 1992 to 2000. His most recent position was with surf specialty chain Tilly's Inc.

Thomas replaces Joel Waller, who is stepping down from the chairman and ceo positions.

At the beginning of this month, Wet Seal operated 467 stores, including 375 Wet Seal units and Arden B. units, in 47 states, the District of Columbia and Puerto Rico. In the fiscal year ended Feb. 3, Wet Seal reported slightly more than $15 million in operating profits after two fiscal years of operating losses.

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