RTW RETAILWINDS,INC. (NYSE: RTW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

RTW RETAILWINDS,INC. (NYSE: RTW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 7.01 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Story continues below

(b) Effective December3, 2018, John M Worthington no longer serves as President and Chief Operating Officer of RTW Retailwinds,Inc., formerly known as New York& Company,Inc. (the “Company”). In connection with Mr.Worthington no longer being employed by the Company, the Company is in the process of entering into a separation agreement with Mr.Worthington which is expected to include the payment of severance benefits consistent with a termination without cause in accordance with the terms of his Letter Agreement of Employment, dated as of October24, 2014, as described in the Company’s 2018 Proxy Statement.

(c) Effective December3, 2018, Sheamus Toal was promoted to the role of Chief Operating Officer and will continue to serve as Executive Vice President, Chief Financial Officer. Mr.Toal joined the Company in 2004, serving in roles with increasing responsibility, including Executive Vice President, Chief Financial Officer and Chief Accounting Officer, serving as the Company’s Controller and has been designated as its Principal Accounting Officer since 2004. Prior to his employment with the Company, Mr.Toal was Vice President and Controller of Footstar,Inc. (a specialty retailer) from 2002 to 2004 and was its Controller from 2001 to 2002. Prior to that, Mr.Toal served in a variety of senior financial management positions with Standard Motor Products,Inc. from 1997 to 2001. Mr.Toal began his career with KPMG LLP where he served in various roles, including a management level position within KPMG’s Manufacturing, Retail and Distribution Group. Mr.Toal holds a B.S. in Accounting from St. John’s University. Mr.Toal is a Certified Public Accountant in the state of New York.

Item 7.01Regulation FD.

On December3, 2018, RTW Retailwinds,Inc. issued a press release announcing that John M Worthington will no longer serve as its President and Chief Operating Officer, effective immediately. In addition, the Company announced that Sheamus Toal was promoted to the role of Chief Operating Officer and will continue to serve as the Company’s Executive Vice President, Chief Financial Officer.

A copy of the press release is included as Exhibit99.1 to this Current Report on Form8-Kand incorporated herein by this reference.

Item 7.01 Financial Statements and Exhibits.

(d) Exhibit

ExhibitNo.

Description

99.1

Press release issued on December3, 2018


RTW Retailwinds, Inc. Exhibit
EX-99.1 2 a18-41189_1ex99d1.htm EX-99.1 Exhibit 99.1     RTW RETAILWINDS,…
To view the full exhibit click here

An ad to help with our costs