The executive shuffle included hiring retail-industry veteran John Goodman in January 2013 to help refocus the company after it fired former CEO Susan McGalla in July 2012 amid falling sales. Goodman resigned in September 2014, and Wet Seal brought back Ed Thomas, a former president and CEO, to lead the company. In addition, Wet Seal dealt with a proxy battle in 2012 with an investment group that wasn't happy with its financial performance. And in 2013 the retailer agreed to pay $7.5 million to settle a federal racial discrimination lawsuit filed by three former employees. Last year, year Wet Seal decided to shut down its Arden B chain, closing some stores and converting some to the Wet Seal name.