- After around eight years in the position
- Thanks and good wishes for Thomas
- Hezy Shaked taking over temporarily
(exechange) — Irvine, California, January 22, 2024 — Ed Thomas, chief executive of Tilly’s, leaves his position. As announced by Tilly’s Inc. in a news release and in a regulatory filing published on Monday, January 22, 2024, Edmond (Ed) Thomas has left his post as chief executive officer at the retail clothing company, after around eight years in the role, effective January 21, 2024.
Generally speaking, it raises questions when a CEO leaves his post abruptly.
Ed Thomas’s duties as CEO will be taken over temporarily by Hezy Shaked, most recently Co-Founder and Executive Chairman of the Board of Directors at Tilly’s Inc., as interim Chief Executive Officer.
No reason given
In the announcement, Tilly’s did not explicitly explain the reason for the move.
Precise information regarding Ed Thomas’s future plans was not immediately available.
“Retired”
Tilly’s said: “[E]ffective today, Ed Thomas has retired from his position as President and Chief Executive Officer and as a Director of the Company.”
Tilly’s further said: “On January 21, 2024 (the “Effective Date”), Edmond Thomas retired from his position as President and Chief Executive Officer of Tilly’s, Inc. (the “Company”) and as a director of the board of directors (the “Board”) of the Company.”
Share price decline since January 2019
The announcement follows a decline in Tilly’s Inc.’s share price of 31% since January 2019.
In the position of CEO since 2015
Ed Thomas became CEO of the Company in 2015.
Edmond Thomas has served as the Company’s President, Chief Executive Officer and a member of the Company’s board since October 2015.
Thomas served as the Company’s President and Co-Chief Executive Officer from September 2005 to October 2007.
He most recently served as Chief Executive Officer and Director of The Wet Seal, Inc. from September 2014 to August 2015, and as a partner of KarpReilly, LLC, a private investment firm focused on small to mid-size growth companies, from February 2011 to August 2014.
Thomas also served as President and Chief Executive Officer of The Wet Seal, Inc. from October 2007 to January 2011.
No statement by Ed Thomas
In the release announcing his departure as CEO of Tilly’s Inc., Ed Thomas received thanks and good wishes.
The announcement of his departure as CEO does not include a statement by Ed Thomas.
Push-out Score for Ed Thomas’s move determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Ed Thomas’s move on a scale of 0 to 10.
Read the full story in the exechange report 5.2024 ($).