Wet Seal clothing chain fires chief executive

7/24/2012

NEW YORK -- As sales declines deepen, teen clothing seller Wet Seal Inc. has fired Chief Executive Officer Susan McGalla without a replacement for her.

Ms. McGalla had been Wet Seal's CEO since January, 2011, and had signed an employment contract with the company through August, 2014. Her departure is effective immediately. The company's chairman, president, and chief financial officer are overseeing Wet Seal until a new CEO is found.