Aeropostale rehires Julian Geiger as CEO
NEW YORK (AP) — Teen retailer Aeropostale says Julian Geiger is coming back to the company as CEO, replacing Thomas Johnson.
The New York company said Monday that Geiger is taking over effective immediately. Johnson is leaving the board of directors as well as relinquishing the CEO title.
Aeropostale has lost money for six consecutive quarters. It is closing stores and cutting jobs as mall traffic drops and shoppers' tastes change. It has said it plans to focus on online sales, outlet stores and licensing deals.
Geiger was chairman and CEO of Aeropostale Inc. from 1998 to 2010, when he stepped down and was replaced by Johnson. He remained chairman until 2012.
Aeropostale shares are up 7 percent to $3.47 in aftermarket trading. The stock has dropped 73 percent in the past 12 months.