Posted 22 January, 2024

TILLY'S, INC. appointed Hezy Shaked as new CEO

NYSE:TLYS appointed new Chief Executive Officer Hezy Shaked in a 8-K filed on 22 January, 2024.

  Appointment of Hezy Shaked as Interim President and Chief Executive Officer  

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Overview of TILLY'S, INC.
Retail/Wholesale • Clothing Retail
Tilly's, Inc. engages in the retail of casual apparel, footwear, and accessories. Its stores are located in retail centers, including malls, lifestyle centers, power centers, community centers, outlet centers, and street-front locations. The company was founded by Hezy Shaked and Tilly Levine in 1982 and is headquartered in Irvine, CA.
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Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 

Departure of Edmond Thomas as President, Chief Executive Officer and Director 

On January 21, 2024 (the "Effective Date"), Edmond Thomas retired from his position as President and Chief Executive Officer of Tilly's, Inc. (the "Company") and as a director of the board of directors (the "Board") of the Company. 

Appointment of Hezy Shaked as Interim President and Chief Executive Officer 

On the Effective Date, the Board appointed Hezy Shaked, the Company's co-founder, Chief Strategy Officer and Executive Chairman of the Board as the Company's interim President and Chief Executive Officer, to serve in such capacities until his successor is duly elected and qualified or until his earlier death, resignation or removal. 

In connection with Mr. Shaked's appointment, the Compensation Committee of the Board approved an increase of Mr. Shaked's annual base salary from $420,000 to $1,000,000, effective as of the Effective Date. Mr. Shaked will continue to participate in the Company's annual incentive cash bonus plan and car allowance program. 

The information required by Items 401(b), (d), and (e) and Item 404(a) of Regulation S-K regarding Mr. Shaked was previously reported in the Company's Definitive Proxy Statement filed with the SEC on April 17, 2023 and is incorporated by reference herein.