CEO Exits
One day after shareholders rejected a proposed sale to two private equity firms, Fabian Mansson, president and chief executive of Eddie Bauer Holdings Inc., resigned. Board member Howard Gross will be the interim chief executive. Eddie Bauer, a chain of stores that sells casual and outdoor clothing, has been struggling for years. On Feb. 8, Eddie Bauer shareholders rejected the company’s proposed sale to a holding company owned by affiliates of Sun Capital Partners Inc. of Boca Raton, Fla., and San Francisco–based Golden Gate Capital. The investment groups planned to pay $286 million in cash and assume $328 million in debt for the company, which is based in Redmond, Wash.
