Jo-Ann's CEO resigns

Jo-Ann Fabric and Craft Stores is in the market for a new CEO as Travis Smith has resigned from his role as CEO and president. Jim Kerr, executive VP and CFO, will act as interim CEO until a replacement is found. He will continue to operate as CFO.

The company's board of directors has initiated a comprehensive search for a replacement. The duties assumed temporarily by Kerr will include partnering with Riddi Kline, executive VP of marketing and merchandising, and Tom Williams, executive VP of operations and HR, to manage business.

Smith joined Jo-Ann in July of 2006 and carried out multiple executive roles prior to his appointment as CEO in August of 2011. Smith's experience with the company included oversight of marketing, merchandising, sourcing, inventory management, supply chain and store operations.

"I am proud of our accomplishments at Jo-Ann," Smith said. "Together we have expanded the reach of Jo-Ann by growing the store base, investing in omnichannel initiatives and improving the customer experience. I wish the company and its employees all the best as I pursue a new chapter in my career."

His next career moves remain unspecified. Story