Michael Rouleau Retires as CEO of Tuesday Morning Corporation

Michael Rouleau has retired as Chief Executive Officer of Tuesday Morning and as member of the company’s board of directors. Mr. Rouleau will remain with Tuesday Morning in a consultative capacity until March 31, 2016 to help ensure a smooth transition.

Tuesday Morning has created a new Office of the Chairman, led by current Board Chairman Steven R. Becker, to support oversight of the company’s strategic initiatives until a new CEO is appointed, as well as added a new lead independent director role which will be held by current board member Terry Burman. The Office of the Chairman will also include Burman as Vice Chairman, Melissa Phillips in her capacity as President and Chief Operating Officer and Phil Hixon, who currently serves as Executive Vice President, Store Operations. The board has also created a search committee and retained Herbert Mines Associates, a leading retail executive search firm, to identify and evaluate both internal and external CEO candidates.

“Michael Rouleau has played a critical leadership role revitalizing Tuesday Morning and rebuilding the company for sustained success in the years to come,” Becker said. “We owe him a debt of gratitude, and appreciate Michael working tirelessly over the last couple of years to rebuild this great brand. Looking ahead, Tuesday Morning has exceptionally strong management talent, and we are well-positioned to execute on our strategies in both the near as well as the long-term.”

Rouleau added, “With Tuesday Morning’s rebuilding program well underway, now is the right time to transition to new leadership. It has been a privilege to lead Tuesday Morning alongside so many dedicated and committed colleagues. I am proud of what the team has accomplished over the last couple of years and believe there is still so much opportunity for Tuesday Morning.”