Talbots Takes 24/7 Wall St. Advice, Sacks CEO

Investing

Published: December 5, 2011 9:20 am

Last Updated: March 26, 2020 10:14 pm

Last week, 24/7 Wall St. made the case that The Talbots (NYSE: TLB) fire its CEO Trudy F. Sullivan. Today, the company pushed her out and said it would start a CEO search.

The Talbots announced that

Ms. Sullivan, who intends to retire once a successor has been identified, has agreed to continue to serve as President, Chief Executive Officer and a member of the Board of Directors of Talbots in the interim to ensure a smooth transition

The Talbots has been a perpetual money loser and same-store sales have fallen throughout most of the last two years. The firm’s share price is off 80% since Sullivan joined.

Sullivan has been in her jobs for four years — and four holiday seasons. There is powerful proof that she has done nothing to improve the company’s prospects. As a matter of fact, they are getting worse.

Douglas A. McIntyre

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