PacSun, Adrenalina end proxy contest

By Lisa Kerner

Charlotte, N.C., April 3 - Pacific Sunwear of California, Inc. said Adrenalina withdrew its slate of director candidates for election to PacSun's board, effectively ending its proxy contest.

According to PacSun, several of its independent directors met with Adrenalina chairman and chief executive officer Ilia Lekach earlier in the week.

"We appreciated the opportunity to have an open and frank discussion with Mr. Lekach, and to hear his ideas and suggestions," PacSun lead independent director Peter Starrett said in a company news release.

In February, Adrenalina announced its slate of director candidates:

• Rob Gordon, senior vice president of marketing at Warner Bros. Records Inc.;

• Craig Lark, president, CEO and managing member of Hoven Sunglasses and Ammon Watches;

• Scott Oshry, partner in and founder of Zorbit Resources, a branding, design and manufacturing company for the beauty and cosmetic industry; and

• Vanessa Rousso, a professional poker player and game theory expert.

Adrenalina, a Miami-based retailer, had also called for the immediate resignation of PacSun chairman and CEO Sally Frame Kasaks.

Anaheim, Calif.-based PacSun is a specialty retailer of action-sport-inspired casual apparel, accessories and footwear for teens and young adults.

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