Build-A-Bear Workshop Inc. has fired Chief Operating Officer and President Scott Seay, and the company said it won't be paying him a severance package.Gee, I usually expect, "We jointly agreed that now was a good time for both ______ and the company to seek new directions." Or at least, "He wants to spend more time with his family."
The Overland-based stuffed toy animal retailer said Monday that the board of directors terminated Seay's employment effective Friday. The company would not disclose why it fired Seay, 45, who has held the two jobs since January 2007.
"The circumstances (of the firing) are not related to business operations or the company's performance," said Molly Salky, Build-A-Bear's director of investor relations. Seay, who was earning a base salary of $368,324, is not entitled to a severance package under termination provisions in his employment contract, and there will be no charge to Build-A-Bear's earnings, she said.
Tuesday, November 04, 2008
Trouble in teddy-bear land
There's a bit of mystery surrounding the firing of the President/COO of Build-A-Bear Workshops.