Charlotte Russe Holding Inc a mall-based specialty retailer of fashionable, value-priced apparel and accessories targeting young women in their teens and twenties, announced that Mr. Mark Rivers has resigned from the board of directors effective October 23, 2007, after having served the company since April 2005.
Mark Hoffman, President and Chief Executive Officer, commented: "On behalf of the entire board of directors, we want to thank Mark for his two years of service and contributions to Charlotte Russe. We wish Mark the very best of continued success in his new business ventures."
On October 24, 2007, Herbert Kleinberger was appointed as a member of our board of directors, effective immediately. Mr. Kleinberger was also appointed as a member of our audit committee and compensation committee.
In connection with his appointment, Mr. Kleinberger was granted a stock option to purchase 10,000 shares of our common stock.
The stock option vests in equal monthly installments over the next four years and has an exercise price equal to the closing price of our common stock on October 24, 2007.
Mark Hoffman, President and Chief Executive Officer, commented: "We are pleased to have Herb Kleinberger join our board, and we look forward to benefiting from his extensive retail experience."
Herb Kleinberger is currently a Principal in ARC Business Advisors LLC. Mr. Kleinberger was a Partner with PricewaterhouseCoopers and leader of the retail consulting practice at PwC for 10 years up until PwC Consulting was purchased by IBM in 2002.
For the past five years Mr. Kleinberger has held various positions within IBM's Global Business Services group including Store Practice Leader and most recently, Global Retail Strategy Leader.
Charlotte Russe Holding Inc
marketing@alchempro.com
