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Gadzooks Strengthens Corporate Governance

From: ASAP


Gadzooks, Inc. (Nasdaq: GADZ) announced that its Board of Directors has established a Nominating and Governance Committee charged with oversight of corporate governance issues such as nomination and evaluation of directors and the application of corporate governance guidelines that reflect current best practices. The Committee will be comprised of the Company's five independent directors and chaired by William C. Bousquette. Mr. Bousquette, who served as chief financial officer of Texaco, Inc., Tandy Corporation and Emerson Electric Company during his career, has served as a director of Gadzooks since July 2001.

"The establishment of the Nominating and Governance Committee is a constructive step in the development of the Company and the Board," said Jerry Szczepanski, chairman and chief executive officer. "We are very pleased to have this committee chaired by an executive of Mr. Bousquette's caliber."

The Company also announced the formation of an internal audit function and the hiring of Mark E. Baker as director of audit services. Prior to joining the Company, Mr. Baker served as director of audit services for CompuCom Systems, Inc., a digital infrastructure provider and reseller of computer products, and specialty retailers Pier 1 Imports, Inc. and The Bombay Company, Inc. With almost twenty years of audit experience, Mr. Baker is a Certified Internal Auditor and a Certified Fraud Examiner.

Dallas-based Gadzooks, Inc. is a mall-based specialty retailer of casual apparel and related accessories for young men and women principally between the ages of 14 and 18. The Company currently operates 437 Gadzooks stores and four Orchid stores, for a total of 441 stores in 41 states.

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