By Business Wire, March 01, 2013, 09:00:00 AM EDT
SHERMAN OAKS, Calif.--(BUSINESS WIRE)--
Cherokee Inc. (NASDAQ:CHKE), a global marketer of style-focused
lifestyle brands, announced today that Mark DiSiena has resigned as
Chief Financial Officer of the Company in order to pursue other career
opportunities, effective February 25, 2013.
Commenting on Mr. DiSiena's resignation, Henry Stupp, Cherokee's Chief
Executive Officer stated, "I want to thank Mark for his contributions
over the past two years. Mark leaves behind a strong finance
organization who will continue to support Cherokee's growth objectives.
We wish Mark well in his future endeavors."
In addition, the Company announced today that Mr. Jason Boling was
elected by the Board of Directors as Cherokee's new Chief Financial
Officer effective on or about March 25, 2013. Mr. Boling comes to
Cherokee with nearly 20 years of finance and public accounting
experience.
Commenting on Mr. Boling's appointment Mr. Stupp stated, "I am very
pleased to welcome Jason to Cherokee. Jason brings exceptional
experience to the Company, and has a strong background in mergers &
acquisitions, strategic planning, budgeting, Sarbanes-Oxley, investor
relations, and tax planning. Jason's proven track record as a successful
corporate finance executive will be an important asset to Cherokee as we
continue to execute against our long-term growth plan. I am confident
that Jason will be a tremendous addition to Cherokee's senior management
team."
Mr. Boling joins Cherokee from DTS Inc., a leader in high-definition
audio technologies and audio enhancement solutions, where he served as
Vice President of Finance and Accounting beginning in 2006. Prior to
DTS, he spent four years as Vice President and Corporate Controller for
Inamed Corporation, a global manufacturer of medical devices. Mr. Boling
also worked for many years in public accounting, including with Deloitte
& Touche LLP and is a registered CPA in California. He earned his
bachelor's degree in Business Administration from California State
University Northridge.
"I am delighted to be joining the Cherokee team at such an exciting
time. Cherokee's unique licensing approach is poised to position the
Company for continued domestic and international success. I look forward
to working closely with my fellow senior management to continue to
promote and develop Cherokee's strategic plans for growth."
About Cherokee Inc.
Cherokee Inc. is a global marketer and manager of a portfolio of Fashion
and Lifestyle brands including Cherokee®, Carole Little®, Liz Lange® and
Sideout®, in multiple consumer product categories and sectors around the
world. The Company's annual global retail sales of owned brands are
approaching $2 billion with license agreements with premier retailers
and manufacturers covering over 40 countries around the world including
Target Stores (U.S.), Tesco (U.K., Ireland and certain Central European
countries), Zellers (Canada), RT-Mart (Peoples Republic of China), Pick
‘n Pay (South Africa), Falabella (Chile, Peru and Colombia), Arvind
Mills (India and certain Middle Eastern countries), Shufersal
LTD.(Israel), Comercial Mexicana (Mexico), Eroski (Spain), Nishimatsuya
(Japan), Magnit (Russia), Landmark Group's Max Stores (certain Middle
East and North Africa countries), and the TJX Companies (U.S.,
Canada and Europe).
Statements included within this news release may contain
forward-looking statements for purposes of the safe harbor provided by
the Private Securities Litigation Reform Act of 1995.When used,
the words "anticipates," "believes," "expects," "may," "should" and
similar expressions are intended to identify such forward-looking
statements.Forward-looking statements included in this press
release (including, without limitation, express or implied statements
regarding potential future business development) involve known and
unknown risk and uncertainties that may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements.Such risks and
uncertainties include, but are not limited to,theeffect
of global economic conditions, the financial condition of the apparel
and retail industry, adverse changes in licensee or consumer acceptance
of products bearing the Company's brands, the ability and/or commitment
of the Company's licensees to design, manufacture and market Cherokee,
Liz Lange, Completely Me, Sideout and Carole Little branded products,
the Company's dependence on Target for most of the Company's revenues
and the Company's dependence on its key management personnel.The
risks included here are not exhaustive. A further list and description
of these risks, uncertainties and other matters can be found in the
Company's Annual Report on Form 10-K for Fiscal Year 2012, and in its
periodic reports on Forms 10-Q and 8-K. Given these risks and
uncertainties, you should not place undue reliance on forward-looking
statements as a prediction of actual results. The Company disclaims any
intent or obligation to update any of the forward-looking statements
contained herein to reflect future events and developments.
Source: Cherokee Inc.