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Citi Trends (CTRN) just unveiled an announcement.
Kenneth D. Seipel has been appointed as the Interim CEO of the Company, effective June 2, 2024, after the departure of David N. Makuen who will transition out of his CEO role as of June 1, 2024. Seipel, with an extensive retail leadership background, will receive a compensation package including a $725,000 annual salary, potential bonuses, and stock awards. Meanwhile, the Board has begun the search for a permanent CEO, considering both external candidates and Seipel for the position. Makuen, who has also resigned from the Board, will stay on as Senior Advisor to ease the transition until August 3, 2024.
Learn more about CTRN stock on TipRanks’ Stock Analysis page.