Kerr Named Interim CEO As Smith Departs Jo-Ann Stores

Travis Smith is stepping down as president and CEO of Jo-Ann Fabric and Craft Stores, the company announced. Jo-Ann’s board of directors will initiate a comprehensive search to identify a replacement CEO, according to the company.

Until it has identified a replacement, Jim Kerr, executive vp and CFO, will serve as Jo-Ann’s CEO, even as he continues in his role as CFO.

“On behalf of the board of directors, I want to thank Travis for the positive role he has played in contributing to the growth of Jo-Ann during his tenure at the company,” said Todd Purdy, partner, Leonard Green & Partners, L.P., which owns Jo-Ann Fabric and Craft.

Jo-Ann operates about 790 stores in 49 of the United States, plus its Web site,