Golden Gate Capital, the owner of Pacific Sunwear of California and Eddie Bauer, announced the creation a new operating company, PSEB Group, to house the two companies. Eddie Bauer President and CEO Mike Egeck will head up PSEB Group as its CEO, overseeing a combined 800+ stores.
The two brands will continue to operate as distinct entities but take advantage of greater economies of scale within shared services when all the pieces are put in place. The deal is expected to close in the fall.
In addition to Egeck’s appointment as CEO of PSEB Group, some of the other pieces fell into place last week. Alfred Chang was named PacSun’s new President, succeeding Gary Schoenfeld who left the company in early 2017, shortly after the Golden Gate Capital acquisition. Chang will report to Egeck. To fill the opening created by Chang’s promotion, Brie Olson was named Exec VP and Chief Merchandising Officer. And rounding out a busy week, Joel Quill assumed the position of VP of Stores at PacSun.
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