Wet Seal Names New CEO

Wet Seal ( WTSLA) named Peter D. Whitford, the former worldwide president of Disney Stores, as the company's new chief executive officer.

The appointment is effective June 30. Whitford will succeed Irving Teitelbaum, who, in addition to serving as Wet Seal's chairman, has been acting as interim chief executive officer since February.

Disney Stores has nearly 700 retail stores in 10 countries. Prior to Disney Stores, Whitford spent six years in senior executive positions, including those of president and chief executive officer at Structure, a division of Limited Brands ( LTD).

He also served in management positions at various other retail companies, both in the U.S. and Australia, Wet Seal said.

Shares of Wet Seal were down 11 cents to $10.49 in recent Nasdaq trading.

Wet Seal, based in Foothill Ranch, Calif., sells apparel and accessories through more than 600 stores.

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