Trans World Entertainment Names John Anderson Acting CFO10 Jul, 2012 By: Erik Gruenwedel
Previous CFO held position less than eight months
Trans World Entertainment Corp. July 10 named veteran executive John Anderson acting CFO, effective immediately.
Anderson, who most recently served as controller for Albany, N.Y.-based Trans World, replaces CFO Tom Seaver, who is leaving the corporate parent of the f.y.e. (For Your Entertainment) retail chain, Suncoast stores and Second Spin used content retailers, after less than eight months in the position.
In a statement, Trans World said Seaver, who replaced 20-year veteran John Sullivan last November, is leaving to pursue other opportunities after a short transition period.
Mike Honeyman, president and COO of Trans World, said Anderson is “ideally” suited to oversee the company's financial operations and support its efforts to grow and deliver value for shareholders.
Anderson, an 18-year company veteran, assumes TWEC’s financial planning and financial reporting divisions at a time when the retailer continues to defy conventional wisdom by generating net income and strong margins.
At a time when brick-and-mortar entertainment retail faces increased challenges from e-commerce, rental kiosks and subscription video-on-demand, Trans World reported profit of $2.8 million in its most recent fiscal period (ended April 28).