The Wet Seal lowers director compensation, board size

Foothill Ranch, Calif. -- The board of directors of Wet Seal Inc. has decided to reduce the cash compensation for its directors by 20% for the remainder of fiscal 2014. Wet Seal will also reduce the number of director nominees to be elected at its upcoming annual meeting from nine to seven.

Kathy Bronstein recently resigned from The Wet Seal’s board of directors, effective April 4.

“By reducing director compensation and the number of directors nominated for election at our 2014 annual meeting, the board is doing its part to ensure it can respond quickly to issues as they arise and support the cost reduction efforts already taken by management,” said Lynda Davey, non-executive chairman of The Wet Seal’s board of directors.