By  on January 23, 2007

Tween Brands announced on Monday the departure of William May Jr., executive vice president and chief operating officer at the preteen apparel retailer.

Kenneth Stevens, former executive vice president and chief financial officer at Limited Brands, will take over as president and chief operating officer effective Jan. 29.

"Ken Stevens brings to Tween Brands a distinguished and valued track record of success in a number of industries, including retail, marketing, financial services and consumer brands. He is a great addition to our executive team," Michael Rayden, chairman and chief executive at Tween Brands, said in a statement.

As president and chief executive officer, Stevens will be responsible for financial; legal; real estate and store planning; information technology and logistics, and loss prevention.

For the fourth quarter ending Feb. 3, the company plans to record a onetime aftertax charge of 2 cents to 3 cents per diluted share in connection with the costs of May's separation agreement.

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