Specialty retailer Pacific Sunwear of California, Inc announced that Greg H Weaver, the Company's Executive Chairman of the Board, will retire effective as of April 1, 2006.
"Greg's long service to Pacific Sunwear, including as Chief Executive Officer from 1996 to 2005 and, more recently, as Executive Chairman, has been critical to the company's phenomenal growth and success since its initial public offering in 1993," Seth Johnson, CEO, commented.
"The employees, management, Board of Directors and shareholders of Pacific Sunwear owe Greg the highest levels of appreciation for his outstanding leadership and direction of their company."
Greg Weaver told that he became Executive Chairman in April 2005 for a limited time to provide a period of transition and to work on new business development.
"Now that their One Thousand Steps concept is ready to launch, this is the appropriate time for him to step down.
He leaves confident that Pacific Sunwear has an outstanding portfolio of retail concepts, talented people and a very experienced leadership team."
Pacific Sunwear, operating under two distinct retail concepts, is a leading specialty retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and young adults.
As of March 18, 2006, the Company operated 814 PacSun stores, 96 PacSun Outlet stores and 197 d.e.m.o. stores for a total of 1,107 stores in 50 states and Puerto Rico.
The Company intends to launch its third concept, One Thousand Steps, in April of 2006.
Pacific Sunwear of California