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Francesca's president and CEO Michael W. Barnes resigns

Francesca'sFrancesca's Holdings Corporation announced that its chairman, president and CEO Michael W. Barnes has resigned.

The company appointed Mr. Barnes as Chairman, President, and Chief Executive Officer on December 5, 2014. Mr. Barnes joined francesca's after serving as Chief Executive Officer of Signet Jewelers since 2011.

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Prior to Signet, he spent more than 25 years in increasingly senior roles at global consumer fashion accessory company Fossil Group concluding in the role of President, Chief Operating Officer and a Director from 2007 to 2010.

The Company's former Lead Director, Richard W. Kunes, has been named interim Chairman, President and CEO.

Mr. Kunes has served on the Company's Board since February 2013 and served as the Lead Director from July 2015 until his appointment as interim CEO. A search for a successor has commenced.

Previously, Mr. Kunes served as Executive Vice President & Senior Advisor to the Chief Executive Officer at The Estée Lauder Companies from August 2012 to June 2013.

Prior to such time, Mr. Kunes served for 12 years as Executive Vice President and Chief Financial Officer at Estée Lauder, as well as holding several other financial management positions with Estée Lauder, including Corporate Controller.

He is currently a member of the Board of Directors and head of the Audit and Finance Committee of Tory Burch LLC.

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