Sharper Image Announces Executive Changes
Friday, 10 November 2006
Sharper Image Corporation has announced that Tracy Wan, president and chief operating officer, and Jeff Forgan, executive vice president and chief financial officer, have resigned their respective positions, effective immediately.
Wan’s position of president and chief operating officer will be eliminated and her management responsibilities will be assumed by interim CEO Jerry W. Levin.
Levin, a seasoned CEO with significant turnaround experience, was appointed by the Board of Directors as chairman and interim CEO on September 26. At that time, the Board also announced that it has begun a search to find a permanent CEO with strong leadership skills, merchandising experience and a history of business success.
Daniel W. Nelson, 45, who is currently the company’s senior vice president, controller and principal accounting officer, has been appointed interim chief financial officer. Nelson previously served as the company’s interim controller and prior to that performed consulting services for the company.
Forgan will serve as a consultant over the next four months to assist the Finance Department. The company will conduct a search for a permanent CFO.
“We are actively engaged in developing a plan to restore Sharper Image to growth and profitability, create value for our shareholders and capitalize on our great brand name and strong customer base,” said Levin. “We thank Tracy and Jeff for their contributions to Sharper Image through the years, and we wish them well in their future endeavors.”