Tandy Leather Factory Inc. said chief executive officer Jon Thompson has resigned from the company.
In a brief statement, the Fort Worth, Tex.-based leather goods supplier and retailer said Thompson has also stepped down from its board.
“Chief financial officer Shannon Greene will assume the role of interim ceo,” the company said. “Senior vice president Mark Angus will assume the role of interim president and work with Ms. Greene on the transition.”
For the trailing 12 months, the company’s sales are $84 million.
According to S&P Capital IQ, Thompson served as president and chief operating officer of the company since June 2008. He was elected as ceo in July 2009. “Thompson is owner of KCST Radio Station,” the S&P noted, adding that he serves as president and general manager of the radio station as well. His career at Tandy Leather Factory began in 1980. His various roles at the company have included overseeing the IT department as well as running the central warehouse. Thompson was also a senior buyer and national manager of store operations. Thompson assisted in the formation and expansion of the craft and metals product lines at the company.
In the local community, Thompson has served as chairman of the Rhododendron and Chowder, Blues and Brews festivals in Florence, Tex., as well as the city’s casino task force. Thompson is also a director of Oregon Pacific Bancorp.
The company describes itself as a specialty retailer and supplier of leather goods, buckles, dyes, finishes and kits. It operates 28 Leather Factory stores in 19 states as well as in three Canadian provinces. The company also operates 82 Tandy Leather retail stores, which can be found in 36 states and six Canadian provinces. It has four “combination wholesale-retail” stores that are located in the United Kingdom, Australia and Spain. The company also has a direct-to-consumer and wholesaler Web site.
All the stores are company-owned. Tandy Leather was founded in 1919 and the Leather Factory was formed in 1980. In 2000, the two companies merged.
Shares of the company closed the day up 1.3 percent to $6.89. The 52-week high is $9.47 and the low is $6.32. The market capitalization of the retailer is $67 million.