CEO of Claire’s Stores Steps Down

Claire’s Stores announced Friday that the company’s CEO Eugene S. Kahn resigned.

Kahn had served as CEO since the chain went private in 2007 in a $3.1 billion takeover by private-equity firm Apollo Management LP. Claire’s Stores President James G. Conroy and Jay Friedman, president of Claire’s North American Division, will immediately form an interim office of the CEO. 

“We thank Gene for his tireless efforts as CEO,” chairman Peter P. Copses said in a statement. “Under Gene’s leadership, the Company has improved its merchandising, more clearly defined its target customers, embarked on a new store program in Europe, and launched its e-commerce site. We are fortunate to have a strong and deep team at Claire’s, and are confident in Jim and Jay’s ability to lead the company as the board conducts a search for a new CEO.”