Citi Trends CEO Resigns To Pursue Another Opportunity

By Tomi KilgoreMarketsMarketWatch Pulse

Citi Trends Inc. said Chief Executive Jason Mazzola has resigned after two years in the position, and five years at the company, according to his LinkedIn profile. The Georgia-based apparel retailer said Mazzola resigned to "pursue another opportunity." The company named Chief Financial Officer and Chief Operating Officer Bruce Smith as acting CEO until a permanent replacement can be found, and named Ed Anderson as executive chairman. Citi Trends stock, which was still inactive in premarket trade, has lost 2.6% year to date, while the SPDR S&P Retail ETF has shed 7.2% and the S&P 500 has gained 4.9%.

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