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Stein Mart names Jay Stein interim ceo

Jacksonville, Fla. - Off-price mid-tier department store chain Stein Mart has named its chairman of the board, Jay Stein, at its interim ceo.

The appointment is effective immediately and follows the retirement of David Stovall Jr., who has held that position since 2008.

"On behalf of the board, I want to thank Dave for his service to Stein Mart over the last three years, and in particular, his accomplishments in returning the Company to solid profitability," said Stein. "We wish him many happy years of well-earned retirement."

In announcing this news, the company also noted that it has formed a search committee of the board of directors. It is led by Robert Mettler, who serves as the board's chair of the strategic planning committee.

"We have a wonderful set of strengths that give us a solid foundation for future growth," Stein continued. "These include our tremendously loyal customer base, strong financial position, and most of all, a talented management team. I am enthusiastic about deepening my engagement with our senior leaders to move forward with our growth initiatives."

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