Wet Seal names Sears exec as CEO

Foothill Ranch, Calif. -- The Wet Seal has named John D. Goodman to serve as its new CEO, with his appointment effective Jan. 7. He replaces former CEO Susan McGalla, who was fired by the company in July 2012 amid sliding sales.

Goodman, who initially joined the Wet Seal as a board member in September 2012, is an apparel industry executive with over 25 years of experience at companies such as Gap, Inc., Levi Strauss & Co., Mervyn's, and Bloomingdale's. Most recently, he served as EVP, chief apparel and home officer, Sears Holdings, overseeing both the Sears and Kmart brands. From 2008 to 2009, he led the turnaround at Charlotte Russe.

"I have always viewed Wet Seal as a pioneer in fast fashion and am thrilled to join the company as CEO," Goodman said "I am honored to have this opportunity to work with the company's executives and associates in both merchandising and operations and return the brand to its roots and drive long-term success.”