Francesca’s Holdings Fires CFO for Social Media Use
Francesca's Holdings says that it fired its chief financial officer, saying that he improperly communicated company information through social media.
The women's clothing retailer also raised its fiscal first-quarter earnings estimate, citing better-than-expected sales.
Its shares rose about 2 percent in morning trading.
The Houston-based company said it terminated Gene Morphis' employment after an investigation by the board that was launched after the company discovered the activity late last week.
Francesca's didn't say in a news release what specific kind of company information Morphis improperly released, or through what form of social media he released it. A company spokeswoman didn't immediately return a call seeking comment.
Morphis could not be reached for comment.