Citi Trends, Inc. (NASDAQ: CTRN) today announced that David Alexander, who has served as President and CEO since April 2009, has resigned as President and CEO and as a member of the Board, effective immediately, to pursue other business opportunities. Ed Anderson, who served as the Company’s CEO from December 2001 through April 2009, and as Chairman of the Board of Directors since May 2006, has returned as CEO. He will continue to serve as Chairman of the Board.
The Company also announced that it has hired Jason Mazzola as Executive Vice President and Chief Merchandising Officer. Mr. Mazzola comes to Citi Trends from a privately-held internet flash sales company, where he served as Chief Merchandising Officer. Prior to that, he spent over 12 years at TJX Companies, including three years as General Merchandise Manager for the A.J Wright Division.
“We appreciate the many contributions that David Alexander made to our Company,” Mr. Anderson said. “We wish him the very best in his future endeavors. We are very happy that Jason is joining our team to lead our merchandising and marketing efforts. I believe that his background and experience are a great fit for our company, and that he will lead our merchandising team to new high levels of performance. While the economic and industry environment remain difficult, I am excited to take on the challenge of leading Citi Trends. With the addition of Jason Mazzola, I believe that we have the team in place to deliver much improved sales and earnings. I feel great about our future.”
About Citi Trends
Citi Trends, Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family. The Company operates 511 stores located in 29 states. Citi Trends’ website address is www.cititrends.com. CTRN-E
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