NEW YORK (TheStreet) - Aeropostale (ARO) shares were surging 8.6% to $3.52 in post-markets trading after the struggling teen retailer said CEO Thomas P. Johnson would step down from his position. The company's board of directors and Johnson, who has been its CEO since December 2010, "mutually agreed" he would step down, according to a press release.
The New York-based company said that its former chairman and chief executive, Julian R. Geiger, has rejoined the company as CEO, effective immediately. Geiger, 68, was the chairman and CEO of Aeropostale from 1998 through 2010. He was CEO from 1996-1998. In 2010, he became just chairman until 2012.
Geiger was the president and CEO of Crumbs Bake Shop
(CRMB) from November 2011 to December 2013, according to Bloomberg. Crumbs announced last month that it would be closing its stores.
Read More: Dollar General's Family Dollar Bid Fails to Impress --Written by Laurie Kulikowski in New York. Follow @LKulikowski
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