Cherokee Inc. (NASDAQ: CHKE), a global marketer of style-focused lifestyle brands, announced today that Mark DiSiena has resigned as Chief Financial Officer of the Company in order to pursue other career opportunities, effective February 25, 2013. Commenting on Mr. DiSiena’s resignation, Henry Stupp, Cherokee’s Chief Executive Officer stated, “I want to thank Mark for his contributions over the past two years. Mark leaves behind a strong finance organization who will continue to support Cherokee’s growth objectives. We wish Mark well in his future endeavors.” In addition, the Company announced today that Mr. Jason Boling was elected by the Board of Directors as Cherokee’s new Chief Financial Officer effective on or about March 25, 2013. Mr. Boling comes to Cherokee with nearly 20 years of finance and public accounting experience. Commenting on Mr. Boling’s appointment Mr. Stupp stated, “I am very pleased to welcome Jason to Cherokee. Jason brings exceptional experience to the Company, and has a strong background in mergers & acquisitions, strategic planning, budgeting, Sarbanes-Oxley, investor relations, and tax planning. Jason’s proven track record as a successful corporate finance executive will be an important asset to Cherokee as we continue to execute against our long-term growth plan. I am confident that Jason will be a tremendous addition to Cherokee’s senior management team.” Mr. Boling joins Cherokee from DTS Inc., a leader in high-definition audio technologies and audio enhancement solutions, where he served as Vice President of Finance and Accounting beginning in 2006. Prior to DTS, he spent four years as Vice President and Corporate Controller for Inamed Corporation, a global manufacturer of medical devices. Mr. Boling also worked for many years in public accounting, including with Deloitte & Touche LLP and is a registered CPA in California. He earned his bachelor’s degree in Business Administration from California State University Northridge.
“I am delighted to be joining the Cherokee team at such an exciting time. Cherokee’s unique licensing approach is poised to position the Company for continued domestic and international success. I look forward to working closely with my fellow senior management to continue to promote and develop Cherokee’s strategic plans for growth.”About Cherokee Inc. Cherokee Inc. is a global marketer and manager of a portfolio of Fashion and Lifestyle brands including Cherokee®, Carole Little®, Liz Lange® and Sideout®, in multiple consumer product categories and sectors around the world. The Company's annual global retail sales of owned brands are approaching $2 billion with license agreements with premier retailers and manufacturers covering over 40 countries around the world including Target Stores (U.S.), Tesco (U.K., Ireland and certain Central European countries), Zellers (Canada), RT-Mart (Peoples Republic of China), Pick ‘n Pay (South Africa), Falabella (Chile, Peru and Colombia), Arvind Mills (India and certain Middle Eastern countries), Shufersal LTD.(Israel), Comercial Mexicana (Mexico), Eroski (Spain), Nishimatsuya (Japan), Magnit (Russia), Landmark Group’s Max Stores (certain Middle East and North Africa countries), and the TJX Companies (U.S., Canada and Europe). Statements included within this news release may contain forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. When used, the words “anticipates,” “believes,” “expects,” “may,” “should” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements included in this press release (including, without limitation, express or implied statements regarding potential future business development) involve known and unknown risk and uncertainties that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the effect of global economic conditions, the financial condition of the apparel and retail industry, adverse changes in licensee or consumer acceptance of products bearing the Company’s brands, the ability and/or commitment of the Company’s licensees to design, manufacture and market Cherokee, Liz Lange, Completely Me, Sideout and Carole Little branded products, the Company’s dependence on Target for most of the Company’s revenues and the Company’s dependence on its key management personnel. The risks included here are not exhaustive. A further list and description of these risks, uncertainties and other matters can be found in the Company’s Annual Report on Form 10-K for Fiscal Year 2012, and in its periodic reports on Forms 10-Q and 8-K. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intent or obligation to update any of the forward-looking statements contained herein to reflect future events and developments.