Tuesday Morning Announces CEO Transition Plan and New Members of the Board of Directors Following Successful Restructuring Process

DALLAS, Jan. 19, 2021 /PRNewswire/ -- Tuesday Morning ("Tuesday Morning" or the "Company") (OTC:TUEM) today announced the leadership transition following the Company's successful reorganization completed in late December. Mr. Becker will serve in his current capacity as Chief Executive Officer and Director until a successor has been named to ensure a seamless transition. The Board and Mr. Becker are united in their commitment to the Company's future success as a leader in the off-price sector. To reflect that commitment, the Board is commencing a search process to identify the Company's next CEO, retaining a leading executive search firm to assist in a thorough search process. 

"I am extremely proud of what our team has accomplished during my five years as CEO," said Mr. Becker. "Most recently we successfully completed our financial and operational reorganization and have emerged as a stronger company. Tuesday Morning is poised for a bright future in the off-price home goods market and is well-positioned to continue serving our valued customers and business partners. I look forward to working closely with the Board and my successor to ensure a seamless transition."

Sherry M. Smith, Chairperson of the Board, said, "Steven has successfully navigated the Company through a very challenging year. As we enter our next phase of growth, Steven and the Board believe that it is the right time to transition leadership. We appreciate Steven's commitment to lead the Company and continued support to facilitate an orderly transition as the Board conducts a comprehensive search for the Company's next CEO."

Recent Board Appointments

As previously disclosed in a Form 8-K filing on December 23, 2020, Tuesday Morning announced new Board memberships following its emergence from Chapter 11 through the appointment of four new directors. 

Effective December 31, 2020, Anthony F. Crudele, Douglas J. Dossey, W. Paul Jones, and John H. Lewis were appointed to Tuesday Morning's Board.  The four new directors have joined continuing directors Steven Becker, Frank Hamlin, Reuben Slone, Sherry M. Smith and Richard Willis.   

Also effective December 31, 2020, Terry Burman, James T. Corcoran and Barry S. Gluck retired from the Board.  The Company appreciates their valuable service to the organization.

Additionally, Sherry M. Smith has been named Chairperson of the Board. Ms. Smith has served on Tuesday Morning's Board since April 2014 and brings extensive leadership expertise from her career as a corporate executive and public company director.

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 490 stores in 40 states.  More information and a list of store locations may be found on the Company's website at www.tuesdaymorning.com.

Media Contact:
Edelman on behalf of Tuesday Morning
[email protected]

SOURCE Tuesday Morning Corporation

Related Links

https://www.tuesdaymorning.com