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Tuesday Morning’s Former CEO Speaks Out

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DALLAS (AP) - Tuesday Morning Corp.’s former CEO Kathleen Mason says she was surprised and disappointed by her dismissal this week.

Mason said Thursday that the Dallas-based discount retailer has been profitable for 12 consecutive years, expanded as a chain and has no long-term debt.

Tuesday Morning announced late Wednesday that it had relieved Mason of her duties as president and CEO earlier this week. She was appointed to the post in 2009.

Tuesday Morning says its board decided it was the right time to transition leadership to a “new executive who will guide the company through its next stage.”

The panel promoted Michael Marchetti, its executive vice president and chief operating officer, to president and chief operating officer plus interim CEO.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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