Pacific Sunwear has eliminated Lou Ann Bett’s job as division president of Demo, the company announced this morning. The move is not much of a surprise since Pacific Sunwear recently announced it is eliminating its Demo division, which specializes in hip hop, urban clothing.
Bett joined PacSun in 2005. Before that, she spent 18 years with The Limited Corp., including as vice president and general merchandising manager of Express Mens.
In fiscal 2006, Bett earned $773,010 in total compensation, according to Pacific Sunwear’s proxy statement. She is eligible for the company’s severance package for top executives.
Here’s the SEC filing:
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Pacific Sunwear of California, Inc. (the “Company”) has determined that it will eliminate the position of Division President of demo that is currently held by Lou Ann Bett. Ms. Bett’s last day of employment with the Company will be March 15, 2008. As a result of Ms. Bett’s separation of employment from the Company, Ms. Bett will be entitled to receive severance benefits under the Company’s Executive Severance Plan, which was previously filed as Exhibit 10.1 to the Company’s Form 10-Q filed with the SEC on December 3, 2007.
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