DALLAS, Nov. 04, 2022 (GLOBE NEWSWIRE) — Tuesday Morning Corporation (NASDAQ: TUEM), a leading off-price retailer of home goods and décor, today announced the following leadership changes, effective immediately:
- Andrew T. Berger appointed Chief Executive Officer (“CEO”). Berger who brings over 25 years of consumer industry experience succeeds current CEO, Fred Hand, who decided to retire from his roles at the Company as CEO and member of the Board. Berger will continue to serve on the Company’s Board.
- Bill Baumann, Chief Information and Chief Marketing Officer, appointed Chief Operating Officer. Baumann succeeds Marc Katz who served as Chief Operating Officer and interim Chief Financial Officer, who has decided to retire. The Company has already initiated a comprehensive search process to identify a permanent Chief Financial Officer. Andrew Berger will assume CFO and finance responsibilities in the interim.
- Paul Metcalf, Principal and Chief Merchant has decided to retire. Bill Baumann will assume responsibilities as Chief Merchant in the interim.
- Mr. Hand, Mr. Katz and Mr. Metcalf will consult with the Company to ensure a smooth transition through June 30, 2023.
Co-Chairmen of the Board Tai Lopez and Dr. Alex Mehr commented:
“On behalf of the Board, we thank Fred for his valuable contributions and leadership of Tuesday Morning and wish him the best in retirement. We are thrilled to welcome Andrew as the next CEO of Tuesday Morning and look forward to working alongside him and the rest of the Board as the Company enters its next chapter of innovation.”
Mr. Hand said:
“It has been a great privilege to serve as the CEO of Tuesday Morning, and I am incredibly thankful to have served alongside the corporate, store, and distribution center teams. I wish everyone at the Company, the Board, and Andrew much success.”
Mr. Berger concluded:
“I am deeply honored and excited to be chosen by the Board as the next CEO of Tuesday Morning, and to succeed Fred, who has diligently guided and served the Company throughout his tenure. I look forward to leading Tuesday Morning as we capitalize on our strategic growth initiatives, unlock tremendous long-term opportunity in the home goods and décor category, and pursue a path towards long-term profitable growth. I want to thank Marc and Paul for their essential service to Tuesday Morning, and I am delighted to welcome Bill as the next Chief Operating Officer. His deep knowledge of the Company and its business will be invaluable as we focus on our strategic growth initiatives and continue to drive deeper connections and engagement with our customers.”
About Andrew T. Berger
Mr. Berger has over 25 years of experience in investment analysis, investment management, and business consulting. For more than a decade, Mr. Berger has led or advised a number of companies through turnarounds in various industries including restaurants, franchising, publishing, and technology. He has been a director of Tuesday Morning since September 2022. He currently serves as a director and executive chair of Autoscope Technologies Corporation and was Chief Executive Officer of the company from April 2021 to November 2022. Mr. Berger is also Managing Member of AB Value Management LLC. His previous roles include Chief Executive Officer of Cosi, Inc., a fast-casual restaurant chain that operates and franchises domestic and international restaurants and director of Rocky Mountain Chocolate Factory, Inc., an international franchisor, confectionary manufacturer and retail operator.
About Tuesday Morning
Tuesday Morning Corporation is one of the original off-price retailers specializing in name-brand, high-quality products for the home, including upscale home textiles, home furnishings, housewares, gourmet food, toys and seasonal décor, at prices generally below those found in boutique, specialty and department stores, catalogs and on-line retailers. Based in Dallas, Texas, the Company opened its first store in 1974 and currently operates 487 stores in 40 states. More information and a list of store locations may be found on the Company’s website at www.tuesdaymorning.com.
