Rouleau Retires From Tuesday Morning, CEO Search Commences

Michael Rouleau has retired from his posts of CEO and director at Tuesday Morning Corp. Tuesday Morning has established a new office of the chairman, led by current chairman Steven Becker, to oversee the company's strategic initiatives until it appoints a new CEO, the company stated.

At the same time, Tuesday Morning has added a new lead independent director role that will be held by current board member Terry Burman. The office of the chairman also includes Burman as vice chairman, Melissa Phillips in her capacity as president and COO, and Phil Hixon, who currently serves as evp/store operations.

The board has assembled a search committee and retained Herbert Mines Associates, a retail executive search firm, to identify and evaluate internal and external CEO candidates.

Rouleau will remain with retailer in a consulting capacity until March 31, 2016, to help ensure a smooth management transition.

"Michael Rouleau has played a critical leadership role revitalizing Tuesday Morning and rebuilding the company for sustained success in the years to come," Becker stated. "We owe him a debt of gratitude, and appreciate Michael working tirelessly over the last couple of years to rebuild this great brand. Looking ahead, Tuesday Morning has exceptionally strong management talent, and we are well-positioned to execute on our strategies in both the near as well as the long-term."