Source Pravda.Ru

Tween Brands reports CFO resignation

Tween Brands Inc said Chief Financial Officer Paul Carbone resigned his position effective immediately.

"We truly appreciate Paul's contributions to the business and wish him much success in the future," said Michael W. Rayden, Chairman and Chief Executive Officer for Tween Brands.

Carbone's resignation "was not in any way related to a disagreement with, inaccuracies or omissions in the company's financial reporting and accounting systems," Tween Brands said in a statement.

The company said it has initiated a search for a CFO and chief operating officer, Kenneth Stevens, assumed the role of principal financial officer.

Tween Brands Inc, formerly known as Too, Inc., operates two store concepts: Limited Too and Justice. Limited Too sells apparel, underwear, sleepwear, swimwear, lifestyle and personal care products aimed at girls aged 7-14. Justice, launched in 2004, sells sportswear and accessory items for girls aged 7-14. Justice operates at mainly non-mall locations such as power strip and specialty centers. The brand currently operates 572 Limited Too and 160 Justice stores.