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Francesca’s Holdings Fires CFO for Social Media Use

AP
Monday, 14 May 2012 | 11:02 AM ET

Francesca's Holdings says that it fired its chief financial officer, saying that he improperly communicated company information through social media.

Francesca’s
Francesca’s

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.

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