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Bebe Stores Restructures Management Board

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PRESS RELEASE: BRISBANE, Calif.–(BUSINESS WIRE)–bebe stores, inc. (NASDAQ:BEBE) today announced that Seth Johnson, Blair Lambert and Brett Brewer have replaced Caden Wang, Barbara Bass and Cynthia Cohen on the Company’s Board of Directors, effective immediately.

Manny Mashouf, Chairman of the bebe Board of Directors, stated, “On behalf of the Board of Directors, we are excited to welcome Seth, Blair, and Brett to the team. They add a wealth of retail experience and strategic business knowledge to the Board and we look forward to their contributions. Overall, driving shareholder value is a priority for our Company and we believe that the appointment of Jim Wiggett as interim CEO and our new Board members will help us to achieve this objective. We would like to thank Caden, Barbara and Cynthia for their many years of service on the bebe Board.”

Seth Johnson previously served as CEO of Pacific Sunwear of California Inc. (“Pacific Sunwear”), and during his tenure the Company achieved record levels of profitability. Johnson also served as COO and CFO of Abercrombie and Fitch. Prior to joining Abercrombie and Fitch he held positions at The Limited Inc., Batus Retail Group, Conoco, and Dayton Hudson (now known as Target). In addition, Johnson has been a member of the faculty at Chapman University. He currently serves on the Board of Directors of Tilly’s, Inc., and previously served on the Board of Directors of True Religion Apparel Inc., DEI Holdings Inc., Pacific Sunwear, and Abercrombie and Fitch.

Blair Lambert, owner of Napa-based Lambert Family Vineyard, currently serves as a Board Member/Investor/Advisor at Three Twins Organic Ice Cream, a nationally distributed organic ice cream brand and Klymit, a company utilizing science and technology for outdoor products. Lambert also serves as an advisor at Chubbies Shorts, an internet based men’s apparel retailer, Watershed Materials, a company that designs and manufactures a green, low carbon, sustainable building product, and Silverado Farming, a full-service vineyard management company. Lambert’s additional executive retail experience includes COO and CFO of The Gymboree Corporation and CFO of Illumination and of bebe stores, inc.

Brett Brewer currently serves as the co-founder and Managing Director of CrossCut Ventures. Brewer also serves as Vice Chairman at Acknowledged Inc. Brewer has more than 15 years of experience as an internet entrepreneur, including having served on the Board of Directors of Transworld Entertainment, a specialty music and video retailer. In addition, he co-founded Intermix Media which launched Myspace.com, Skilljam.com and Alena.com. He currently serves on the Board of Directors of Pacific Sunwear.

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