Just two years after she was named Businesswoman of the Year by the Women's Chamber of Commerce of Texas, Kathleen Mason is out as the CEO of Tuesday Morning Corp.
The Dallas-based discount retailer Wednesday said that it relieved Mason of her duties as president and CEO on Tuesday.
Mason was appointed to the post in 2000.
Michael Marchetti, who's executive vice president and chief operating officer, was promoted to president and chief operating officer. He will also serve as interim CEO while the search for a permanent replacement is under way.
Chairman Bruce Quinnell said the board of directors concluded it was the right time to transition leadership to a new executive.
Tuesday Morning, which sells closeout house ware and home decor items, reported in April that its third-quarter loss widened as fewer people visited its stores and bought less each visit.