bebe stores, inc. announces CEO transition

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BRISBANE, Calif.--(BUSINESS WIRE)--bebe stores, inc. (NASDAQ:BEBE) today announced that Steve Birkhold has resigned as Chief Executive Officer of bebe stores, inc. effective today. Concurrently, the Board of Directors has appointed Jim Wiggett, currently Chief Executive Office of Jackson Hole Group, as Interim Chief Executive Officer of bebe. The Company will also commence a search for a permanent Chief Executive Officer. Manny Mashouf, Chairman of the bebe Board of Directors, stated, "On behalf of the Board of Directors, we are excited to welcome Jim to the team. Jim is a highly accomplished executive, with proven leadership capabilities, retail and merchandising expertise and a wealth of strategic business knowledge, and we look forward to his insights into the strategic direction of the Company. We would like to thank Steve for his contributions as CEO, and we wish him well in his future endeavors."

Mr. Wiggett has been providing advisory services to the Company for the past five years. He joins the bebe team with close to 40 years of retail, merchandising, and business experience. Prior to founding the Jackson Hole Group, a strategic consulting group, Mr. Wiggett held a number of executive positions, with several high-profile companies, most recently Moet Hennessy Louis Vuitton (LVMH). As Executive Vice President at LVMH, Mr. Wiggett provided leadership to the 10 operating companies within the Select Distribution Group and consulting support to many of the non-retail organizations. While at LVMH, he served as the President and Chief Executive Officer of Sephora.com, a subsidiary of LVMH. Prior to joining LVMH, Mr. Wiggett held senior positions with Duty Free Stores (DFS), the ITEL Corporation, Cambridge Plan International, and R.H. Macy Corporation. In addition, he has served on a number of corporate boards, charitable boards, and professional associations.

About bebe stores, inc.:

bebe stores, inc. is a global specialty retailer, which designs, develops and produces a distinctive line of contemporary women's apparel and accessories under the bebe, BEBE SPORT, bbsp and 2b bebe brand names. bebe currently operates 227 stores, of which 176 are bebe stores, including the on-line store bebe.com, 18 2b bebe stores and 33 bebe outlet stores, including the on-line store 2bstores.com. These stores are located in the United States, U.S. Virgin Islands, Puerto Rico and Canada. bebe also distributes and sells bebe branded product through its licensees in approximately 26 countries.

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