Vera Bradley names new CEO

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Vera Bradley Inc. VRA, -3.86% said Tuesday that it has named Jacqueline Ardrey as its new president and chief executive, following the retirement of Rob Wallstrom. Wallstrom, who announced his intention to retire in July, will remain with the company through December to serve as an adviser to Ardrey “and ensure a smooth transition,” the retailer said. Ardrey’s appointment is effective Nov. 1, and Ardrey will also join the company’s board of directors on that date, Vera Bradley said. Shares of Vera Bradley have lost nearly 62% so far this year, compared with losses of around 19% for the S&P 500 index. SPX, -1.13%

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