Management Shuffle At Perry Ellis: Company Names No Chairman Of Board, CEO

Shares of Perry Ellis International, Inc.

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(NASDAQ: PERY) were trading higher by nearly 1 percent early Thursday afternoon after the company

announced several changes to its management team.The company noted that the management change took place in accordance with a prior executive leadership succession plan.Oscar Feldenkreis, the company's President and Chief Operating Officer has been named as CEO and President. In addition, George Geldenkreis, Chairman of the Board and CEO has been named as Executive Chairman of the Board.Feldenkreis founded Perry Elis nearly 50 years ago and has served as Chairman and CEO since 1993. Feldenkreis has been with the company since 1980."I congratulate Oscar on his well-deserved appointment as Perry Ellis' Chief Executive Officer," George Feldenkreis said. "We have worked closely since he joined Perry Ellis 35 years ago and I have observed with great pride the significant role he has played in the Company's growth and success. I am very confident that he has the ability to drive the next era of growth and shareholder value creation.""Going forward, we will remain focused on continuing to meet the changing needs of our consumers, as well as on growing and building value for our shareholders by optimizing our global portfolio, driving international growth, expanding our direct-to-customer footprint and expanding profit margins," Oscar Feldenkreis said. "I look forward to working closely with the Board, our talented management team and our more than 2,600 associates, as we continue to move the Company toward its sales and profitability goals."