The Wet Seal, Inc. (Nasdaq: WTSLA), a leading specialty retailer to young women, announced the appointment of four new members to its Board of Directors and the appointment of Lynda J. Davey as Chairman of the Board. The Board of Directors also established chairmen and members for the Nominating and Governance, Compensation and Audit committees of the Board.
New Board Members
Effective October 4, 2012, four new Directors joined the Company’s Board of Directors: Dorrit M. Bern, Lynda J. Davey, Mindy C. Meads and John S. Mills. Today, Ms. Davey was appointed the Chairman of the Board. The newly appointed Directors filled four vacancies created by the resignations of Harold D. Kahn, Jonathan Duskin, Sidney M. Horn and Henry D. Winterstern. The new Directors joined continuing members Kathy Bronstein, John D. Goodman and Kenneth M. Reiss.
Lynda J. Davey has served as Chairman and Chief Executive Officer of Avalon Group Ltd, a boutique investment bank, and Avalon Securities Ltd, one of the few woman-owned FINRA and SEC-registered broker-dealers, since she co-founded the companies in 1992. Prior to Avalon, Ms. Davey was President of Tribeca Corp., a merchant bank, and worked at Salomon Brothers Inc. Ms. Davey currently serves on the board and chairs the Audit Committee of the Girl Scouts Council of Greater New York and is a Manager of Verite Capital Partners, LLC, a private investment fund. She also served on the Advisory Council of Wells Fargo's Capital Finance Group and its predecessor entity, the Paragon Capital Retail Group. She has previously served as a board member and Chairman of the Audit Committee for ICTS International, and as a board member of Tuffy Associates Corp., Jane Cosmetics, and Textus Industries, Inc. In addition, Ms. Davey was a founding member of the Advisory Board of the Fashion Institute of Technology's Center for Design Innovation.