April 28, 2016
On the heels of filing for bankruptcy protection, Pacific Sunwear’s Chief Financial Officer Chris Tedford has resigned to “pursue other endeavors.” In his place, Ernie Sibal, former vice president of real estate, construction and strategy, has stepped in to fill the role.
Sibal has been with the company since 2008, and was in the VP role since September, managing the company’s real estate portfolio of 593 stores nationwide. Last year, its sales revenue reached $801 million, but PacSun is looking to renegotiate leases and cut occupancy to lower costs by about $140 million.
Seventeen employees have recently left Pacific Sunwear’s Anaheim-headquartered office.