On December 12, 2005, William Prange, our Chief Executive Officer since March 1998 and Chairman of the Board since September 1999, resigned, and we named Joseph E. Pennington Chief Executive Officer and Larry C. Barenbaum as Chairman of the Board. Mr. Pennington had served as our Chief Operating Officer since 1998 and also as our President since 1999. Mr. Barenbaum had served as a director since 1992. Also on December 12, 2005, we promoted Matthew P. Dillon to President and Monica Dahl to Chief Operating Officer. We hired Mr. Dillon as Executive Vice President and Chief Merchandising Officer in May 2005, and we hired Ms. Dahl as Director of Business Development in May 2004. Effective December 12, 2005, we also promoted Andrew K. Moller, our Chief Financial Officer, to Executive Vice President and Chief Financial Officer. With these changes we intended to recognize the contributions of Mr. Dillon, Ms. Dahl and Mr. Moller but also acknowledge that Mr. Pennington’s experience and leadership would be critical to the effective training and further development of Mr. Dillon, Ms. Dahl and Mr. Moller. |