Frederick's of Hollywood Group Inc announced that, effective May 23, 2009, it will terminate the consulting agreement with Performance Enhancement Partners, LLC, which provides the services of Peter Cole to serve as the Company's Executive Chairman. Mr. Cole will continue to serve as a member of the Company's Board of Directors.
Thomas Lynch, the Company's Chief Executive Officer and a director, has been appointed to replace Mr. Cole as Chairman of the Board. Mr. Lynch, together with Linda LoRe, the Company's President, will lead the Company forward as it continues to streamline its consolidation efforts and provide for the coordinated operation of its retail and wholesale operations.
Thomas Lynch stated, "On behalf of the Company, I would like to thank Peter Cole for his dedication and service as our Executive Chairman and lead director over the past two years. Mr. Cole's business and financial experience is an asset to the Company and we appreciate his continued service as a board member."
Frederick's of Hollywood Group Inc
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