Wet Seal's

( WTSLA) chief financial officer has jumped ship to join Old Navy.

Wet Seal, a Foothill Ranch, Calif., teen-apparel retailer, said Tuesday that John Luttrell has resigned as CFO, effective Sept. 21. He'll take the same position at Old Navy, a division of San Francisco-based

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Wet Seal named Steve Benrubi, currently vice president and controller, as Luttrell's replacement. Benrubi joined the company in 2005.

"Since joining the company, Steve has been an active participant in our turnaround efforts and in establishing the controls and infrastructure necessary to allow for the growth of our business going forward," said Wet Seal CEO Joel Waller.