The Wet Seal LLC in Foothill Ranch named Melanie Cox its new chief executive. Cox, a member of Wet Seal’s board of directors, replaces Ed Thomas, who led the company through its Chapter 11 bankruptcy and later acquisition by Versa Capital Management LLC in April.
“I’m glad to have been able to bring Wet Seal back to solid ground after its long period of uncertainty,” Thomas said in a statement. “I decided it’s the right time for me to step back after a grueling process and evaluate other opportunities, while being confident that Wet Seal is in Versa and Melanie’s able hands.”
Gregory Segall, chairman of Wet Seal and chief executive of Versa Capital, said Cox worked closely with Thomas over the past six months “as both a board member and trusted advisor.”
“With all the important changes and achievements in its restructuring over this last year, we expect the business to continue its renewal and flourish under Melanie’s direction,” Segall said.
Cox served as chief merchandising manager for Urban Outfitters as well as president and chief executive of luxury retailer Scoop NYC. She also ran MBC Consulting, advising “private equity and corporate clients on retail industry trends, opportunities and risks (and) strategic and merchandising direction,” including Versa Capital, Guardian Capital Partners, Kurt Salmon, CD&R, Hitachi Consulting, UBS and Investcorp, according to her LinkedIn profile.
Thomas was in his third stint as an executive with Wet Seal and served more than 12 years working for the brand. He was president and chief operating officer from 1992 to 2000. He came back in 2007 and served as chief executive until 2011. The chain went through two top executives in the few years before his return in September.
Wet Seal operates 171 stores in 41 states.
