John De Meritt, chief executive officer and co-founder of Francesca’s Holdings Corp., is stepping out on a high note and ceding the top job to president Neill Davis.

De Meritt has been ceo since 2007 and took the company public in July 2011. He will stay on until the end of the year when Davis will take over. The incoming ceo joined Francesca's board in 2007 and spent 15 years at The Men's Wearhouse Inc., where he served as executive vice president as well as chief financial officer. Francesca's chief operating officer Theresa Backes will also be moved up to president.

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