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Aeropostale CEO resigns

Posted on by darion

By

Reuters Agency

Published


September 24, 2009

CHICAGO, Sept 24 (Reuters) – Aeropostale Inc (ARO.N) said on Thursday (Sept 24) Julian Geiger will step down as chief executive at the end of January. He will be replaced by two executives who will share the position.


Photo: www.aeropostale.com


Geiger, who will remain chairman, has served as CEO since 1996 but informed the company he will step down at the end of the current fiscal year, which ends Jan. 30. He will be replaced by Mindy Meads and Thomas Johnson as co-CEOs, the youth apparel retailer said in a statement.

The company also said Michael Cunningham will be promoted from executive vice president to president following Geiger’s departure, while remaining chief financial officer.

Meads has served as president and chief sales officer since March 2007, and Johnson has served as executive vice president and chief operating officer since March 2004.

Aeropostale shares fell to $43.50 in premarket trading from Wednesday’s (Sept. 23) closing price of $43.57 on the New York Stock Exchange. (Reporting by Ben Klayman, editing by Gerald E. McCormick; Editing by Lisa Von Ahn)