Talbots chief will resign next year
Arnold B. Zetcher, 66, plans to retire in early 2008 as chairman, chief executive, and president of Talbots Inc. after 20 years of leading the company.
Talbots, a Hingham retailer primarily focused on women's clothing, said Zetcher will retire as chief executive and president in February, 2008, and as chairman the following month.
Talbots said its board has appointed a search committee that will consider both internal and external candidates as Zetcher's successor.
In a statement, presiding director Susan Swain said of Zetcher, "He has guided Talbots transformation over the past 20 years from a small, privately held regional company with 109 stores to a $2.2 billion publicly traded, multi-channel, multi-brand retailer with over 1,360 stores throughout the US, Canada, and the U.K."
In mid-day trading on the New York Stock Exchange, company shares were up 8 cents to $24.47.
