Merrimack, NH — Brookstone CEO Ron Boire has resigned, leaving Brookstone chairman Jackson Tai to serve as interim president/CEO. Brookstone also has promoted James Speltz to vice president, COO.
Merrimack, NH — Brookstone, Inc. has accepted the resignation of Ron Boire, its president and CEO and a member of the company’s board of directors. Boire’s resignation is effective January 3, 2012, after which he will join Sears Holdings Corporation as its new executive vice president, chief merchandising officer and president, Sears and Kmart Formats. Boire joined Brookstone in 2009.
Effective upon Boire’s resignation, Jackson Tai, the company’s chairman of the board, will serve as interim president and CEO while the company undertakes a search for a permanent successor to Boire.
Brookstone also has appointed James M. Speltz as its vice president, chief operating officer. Speltz has been with the company since 1998. Most recently, he has served as vice president, business development and supply chain since January 2011, and previously held positions as the operational vice president of inventory management and various roles in the company’s IT department.
“We look forward to working with Jim in his new role,” says Tai. “For more than 13 years, Jim has been intimately involved in many critical aspects of the company’s operations and has been a key driver of the company’s new business initiatives in the wholesale and licensing areas. His ‘hands-on’ leadership and his strong operating insight will be invaluable as the company takes steps to meet the challenges presented by the current retail environment.”
CFO Thomas Moynihan anticipates that Brookstone’s 2011 sales increased at least 5% over fiscal year 2010. “We continue to be encouraged by our improving operational and financial results despite the difficult macro-economic environment. Our new initiatives, including our online marketplace and expanding wholesale and licensing divisions, have been important pieces of our continued success and will be critical to the company’s future growth,” says Moynihan.
Brookstone, Inc. is a product development and specialty lifestyle retail company that operates approximately 300 Brookstone branded stores nationwide and in Puerto Rico. For more information, visit http://www.brookstone.com.