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Eddie Bauer Holdings, Inc.
Eddie Bauer Holdings Board Reduces Board Size and Compensation
February 14th, 2009
The Board of Directors of Eddie Bauer Holdings, Inc. (NASDAQ:EBHI) (the "Company") has decided to reduce the size of the Board from ten to seven members, and to significantly reduce the compensation of remaining Board members. These actions are being taken as part of the overall Company plan to reduce expenses in the current difficult retail environment. In 2008, the Company removed $45 to $50 million from its cost structure. In January 2009, the Company announced that given the weakness in the retail economy, the Company will commence an additional cost reduction effort for 2009 targeting additional cost reductions of $10 to $15 million. The downsizing of the Board and...
Source: Law & Health Weekly (2009-02-14)
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