Wilsons The Leather Experts Inc announced the August 8, 2007 appointment by the Board of Michael T. Sweeney, Managing Partner of Goldner Hawn Private Equity, to the position of non-executive Chairman of the Board of Wilsons Leather. Mike Searles will continue to be Chief Executive Officer.
Mr. Sweeney said, "Goldner Hawn invested in Wilsons Leather because we are excited about the Company's prospects, particularly with regard to our future in the women's accessories business."
"We believe that the Company's 411 stores across the United States uniquely position us for success. As Chairman, I look forward to working directly with the Company's leadership team in solidifying and implementing our strategy."
The Company has retained Financo Inc, an investment banking firm that specializes in advisory services to retailers and merchandising companies, Telsey Advisory Group, an independent research and consulting firm focused on the consumer sector, and IDEO, a design and innovation firm, as strategic advisors to assist Wilsons Leather as it pursues a future business strategy.
As previously indicated, the Company expects that the future business strategy will build on one of its prior initiatives, which is to expand its accessories business. This expansion is expected to include accessories-only stores and may include the acquisition of an established accessories brand.
Wilsons The Leather Experts Inc
marketing@alchempro.com
