CHANGES AT WET SEAL: The Wet Seal Inc.’s chief financial officer Steven H. Benrubi said he will be resigning his position effective Dec. 1, according to a regulatory filing with the Securities and Exchange Commission. The teen retailer said a search for a new cfo is under way.
In a separate SEC filing, Wet Seal also said the board has appointed Gregory Taxin of The Clinton Group, an activist hedge fund, to fill a vacancy on the board. Taxin will serve as a member of the audit and compensation committees. Taxin will receive an annual stipend of $46,750, pro rated to $15,926 for the balance of fiscal 2014, plus a restricted stock grant having a cash value of $110,000, pro rated to $37,473, that will vest on Jan. 31.