Coldwater Creek, Inc. CWTR (NASDAQ) the women’s retailer announced today that CEO Daniel Griesemer resigned and would be replaced immediately by chairman and co-founder Dennis Pence. He has also resigned
his board position. Coldwater has been struggling, just as all other women’s retailers, during the current recession but has managed to control its inventory and stay within predictions by Wall Street. It is unclear exactly what forced the change at the top of the firm. Griesemer had been appointed CEO back in 2007. Investors should keep a close eye on the firm to get a better picture behind the change and what might be planned for the firm going forward.
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