Home / Knowledge / News / Apparel/Garments / Bebe announces executive leadership changes
Bebe announces executive leadership changes
24
Feb '16
Bebe stores, Inc., a global specialty retailer, which designs, develops, and produces a distinctive line of contemporary women's apparel and accessories , has announced major leadership changes.

Manny Mashouf has rejoined Bebe's management team as chief executive officer and that Walter Parks has rejoined as president, chief operating officer, and interim-chief financial officer. Former chief executive officer and Board Member Jim Wiggett and former chief financial officer Liyuan Woo have resigned from the firm, according to a press release.

Bebe further announced that it has instituted a workforce reduction that will result in the elimination of a total of approximately 45 positions across the design, merchandising, production, information technology and support functions of the Company. This represents approximately a 14.6 per cent reduction in corporate headcount. As part of the reduction, the Company is streamlining its design and merchandising teams, while reducing support functions in recognition of the rationalisation of the store base.

As a result of the restructuring, the Company expects to incur a one-time severance charge of approximately US $3.7 million in the third fiscal quarter of 2016. These reductions are expected to yield annualised pre-tax cost savings of approximately US $6.0 million.

Mashouf said, “I am extremely pleased to be returning to Bebe as CEO. I also look forward to working with Walter as his deep financial knowledge, as well as his long history with the Bebe brand, makes him a great addition to our team. We believe the changes we are implementing will enable us to become a leaner and more nimble organisation, allowing us to increase our focus on profitability while enhancing our product offering.” (GK)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search