UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 26, 2012 (July 23, 2012)
THE WET SEAL, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 0-18632 | 33-0415940 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
26972 Burbank
Foothill Ranch, CA 92610
(Address of principal executive offices; zip code)
Registrant’s telephone number, including area code: (949) 699-3900
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 23, 2012, the Board of Directors of The Wet Seal, Inc. (the “Company”) terminated the employment of the Company’s Chief Executive Officer, Susan P. McGalla. Ms. McGalla resigned from the Board of Directors of the Company effective July 25, 2012.
The Board of the Directors of the Company is commencing a search for a new Chief Executive Officer. In the interim, while the search process is conducted, the Company has formed an Office of the Chairman, led by Harold D. Kahn, the Company’s non-executive Chairman of the Board. Also during this interim period, Kenneth D. Seipel, the Company’s President and Chief Operating Officer, and Steven H. Benrubi, the Company’s Chief Financial Officer, will be co-principal executive officers and members of the Office of the Chairman until a new Chief Executive Officer has been selected by the Board of Directors.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| The Wet Seal, Inc. | ||||
| Dated: July 26, 2012 | By: | /s/ Steven H. Benrubi | ||
| Name: | Steven H. Benrubi | |||
| Title: | Executive Vice President and Chief Financial Officer | |||