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Pacific Sunwear Replaces Finance Chief

Pacific Sunwear of California said on Thursday it appointed Michael Henry as interim chief financial officer, replacing Gerald Chaney, who has resigned.

Henry has been with the surf-inspired retailer for more than seven years and served most recently as vice president and controller, the company said.

No reason was given for the resignation of Chaney, who had been with the company for three years. Shares were down more than 2 percent on the day.

Pacific Sunwear said it planned to search for a permanent chief financial officer.

The Anaheim, Calif.-based company, operator of the PacSun mall-based clothing stores, is seeking strategic alternatives for its underperforming hip-hop chain called demo, and has announced that it will shutter its new chain of shoe boutiques called One Thousand Steps.