Walter Killough will step down as CEO of the 109 unit Delia’s retail chain on April 1.
The retail said it and Killough reached a mutual agreement not to renew his employment agreement which was scheduled to expire on August 2. Plans now call for Killough to leave the company on April 1, however he may stay on longer if a replacement has not been named.
"On behalf of the board of directors, I want to thank Walter for his nine years of dedicated service to Delia’s. Walter has been a great leader, following through on our strategic initiatives and positioning Delia’s on the right course to profitability," said Carter Evans, chairman of the board. "At this time, the board has commenced a search for a new CEO to lead the company forward. Walter will continue to work with our strong team of operators to carry forward our objectives and ensure a smooth transition."
Killough thanked the board and Delia’s team for their support and confidence and vowed to help during the leadership transition.
"During the search for a successor chief executive officer, I will remain focused on and actively engaged in the continued execution of our strategic initiatives through the transition period," Killough said.
Delia’s is a multi-channel retail company focused on apparel, accessories and footwear that is comprised of two lifestyle brands, Delia’s and Alloy, marketing to teenage girls and young women.