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Saturday, Jul 2, 2022

Wet Seal Names Three to Expanded Board

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Foothill Ranch-based Wet Seal Inc. announced the addition of three board members that signal a push by the teen and contemporary retailer to grow its e-commerce business and social media presence.

“Our three new independent directors all have specific expertise, credibility and networks to help guide the company as we build out our online and mobile platforms,” said Chief Executive John Goodman in a statement. “We are very fortunate to have them joining the board at this crucial juncture.”

The appointments of Deena Varshavskaya, Nancy Lublin and Adam Rothstein represent the addition of two board seats for Wet Seal, bringing the total number of directors to nine. One appointment fills a seat left open following the recent resignation of Mindy Meads, who was named chief executive of New York-based retailer Calypso St. Barth.

Varshavskaya is founder and chief executive of San Francisco-based Wanelo, a website that lets users post various products they like for others to see and buy.

Lublin serves as chief executive of Dosomething.org, a non-profit aimed at young people interested in social change. Rothstein is general partner at early stage venture fund Disruptive Technologies Partners.

Wet Seal operates 475 stores in its Wet Seal chain for teens and 57 Arden B stores geared to young women.

Wet Seal shares were about flat in afternoon trading Monday to a market value of $159.70 million.

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