Kirkland's, Inc. (NASDAQ: KIRK) today announced that W. Michael Madden,
the Company's Senior Vice President and Chief Financial Officer, has
been promoted to President and Chief Operating Officer, effective
immediately. Kirkland's expects Mr. Madden to assume the role of Chief
Executive Officer after a period of orderly transition. Mr. Madden will
remain the company's principal financial officer pursuant to S.E.C
requirements.
The Company also announced that Michelle R. Graul, the Company's Senior
Vice President of Stores/Human Resources, has been promoted to Executive
Vice President of Stores and Merchandising, and Adam C. Holland, the
Company's Vice President of Finance, has been promoted to Chief
Accounting Officer, effective immediately.
Mr. Alderson, the Company's Chief Executive Officer, noted, "Kirkland's
deep and experienced senior leadership team has been integral in
restoring our stability and profitability as well as rebuilding
shareholder value. I'm pleased that the Board has recognized Mike's many
contributions to our success and his outstanding leadership potential.
I've worked closely with Mike for the last eight years as CFO, and he
filled in admirably during my illness over a year ago. His experience,
knowledge of Kirkland's culture, and vision for our future make him the
best person to lead Kirkland's through our next phase of growth.
"Michelle's extensive store operations, human resources and visual
merchandising experience, as well as demonstrated leadership ability,
uniquely qualify her for this expanded role. Along with Mike and other
members of the senior team, she will continue to lead our efforts in
improving the Kirkland's store experience and enhancing our merchandise
team and offering. Adam has been a key member of our finance team for
the last nine years and has continually increased his contribution and
responsibility in our strategic functions, accounting, and regulatory
reporting. We are confident in his ability to excel in his new and
expanded role."
Kirkland's, Inc. was founded in 1966 and is a specialty retailer of home
décor in the United States. Although originally focused in the
Southeast, the Company has grown beyond that region and currently
operates 328 stores in 35 states. The Company's stores present a broad
selection of distinctive merchandise, including framed art, mirrors,
candles, lamps, picture frames, accent rugs, garden accessories and
artificial floral products. The Company's stores also offer an extensive
assortment of gifts, as well as seasonal merchandise. More information
can be found at www.kirklands.com.
Except for historical information contained herein, the statements in
this release are forward-looking and made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.Forward-looking
statements involve known and unknown risks and uncertainties, which may
cause Kirkland's actual results to differ materially from forecasted
results.Those risks and uncertainties include, among other
things, the competitive environment in the home décor industry in
general and in Kirkland's specific market areas, inflation, product
availability and growth opportunities, seasonal fluctuations, and
economic conditions in general.Those and other risks are more
fully described in Kirkland's filings with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K filed on
April 17, 2014.Kirkland's disclaims any obligation to update any
such factors or to publicly announce results of any revisions to any of
the forward-looking statements contained herein to reflect future events
or developments.
Kirkland's, Inc.
W. Michael Madden, 615-872-4898
President &
COO
IR@Kirklands.com
or
SCR
Partners
Tripp Sullivan, 615-760-1104