Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
On June 25, Zale entered into a separation and release agreement with Steve Larkin, the now former executive vice president and chief marketing and e-commerce officer. Larkin receives a generous severance package that spans 18 months.
On June 25, Zale Delaware Inc., a wholly owned subsidiary of Zale Corp., entered into a separation and release agreement with Steve Larkin, the now former executive vice president and chief marketing and e-commerce officer.
As provided in Larkin’s employment security agreement, he will receive severance pay of $651,693, to be paid in equal amounts over an 18-month period. Under the terms of the employment security agreement, Larkin has agreed to certain non-competition and non-solicitation provisions for a period of 18 months.
Zale did not immediately return a call for comment on Larkin’s departure, nor did it provide comment on who is now filling the role of e-commerce chief.
Zale is No. 185 in the Internet Retailer Top 500 Guide.