Brookstone, which filed Chapter 11 earlier in the Summer, has announced that its president and CEO James. M. Speltz has resigned, and that the company’s CMO, Steve Schwartz, has been appointed by the board to serve as interim president and CEO.
“Jim took on the President and CEO role at a challenging time, helping the company navigate through a difficult period. He successfully helped Brookstone emerge from Chapter 11 in June. We are grateful to him for his leadership and contributions,” said Piau Phang Foo, chairman of the Brookstone board of directors. “We wish him success as he pursues his next challenge.”
Schwartz has been with the company for 15 years and has led the merchandising, product development and marketing teams for the last three years.
“We have a strong senior management team in place, supported by the retail industry’s most talented and dedicated managers and sales associates,” Schwartz said. We are looking forward to an excellent holiday season with great new products and some very exciting partnerships to be announced over the next two weeks. We are positioned for solid growth in the year ahead.”
Schwartz continued, “Driving product innovation is our number one goal. Moving forward, we are investing more in design and engineering through our award winning Brookstone Design Lab, as well as expanding our partnerships with inventors, global innovators and crowdfunded partners. These initiatives will help us strengthen our offering of unique and innovative products and gifts.”
The company has 240 retail stores in malls and airports across the U.S. and also sells through brookstone.com and catalogs.