LOS ANGELES — At its annual shareholder meeting Wednesday, Sally Frame Kasaks was named CEO of Pacific Sunwear of California Inc.
Kasaks, who has served as interim CEO for the past eight months, announced that she would remain in the top spot during the meeting in Anaheim, Calif. She replaced Seth Johnson, who left as chief executive in October after only 18 months in the position.
On Monday, Pacific Sunwear posted a first-quarter loss of $5.1 million, or 7 cents a share, from income of $11.9 million, or 16 cents a share, in the same quarter a year ago. The first-quarter loss was due in part to the closure of 74 underperforming demo stores, Kasaks said in a Monday conference call.
“I look forward to the years ahead,” Kasaks said to a roomful of shareholders and company employees Wednesday morning. “When I got into boating, I realized you have to do two things: Keep your feet firmly planted and your knees bent. I think that’s going to have be our image for the next couple of years … to have flexibility, but the strength to hold our own.”
Kasaks, a former chairman and CEO of The Talbots Inc. and Ann Taylor Stores Inc., has been a director at Pacific Sunwear since 1997.
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