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Francesca's Holdings chief administrative officer to step down

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Francesca's Holdings chief administrative officer to step down

Women's retail boutique operator Francesca's Holdings Corp. said Kal Malik, its executive vice president, chief administrative officer, general counsel and corporate secretary, will step down Dec. 31.

Malik will depart from all other positions held within the company as well with its subsidiaries the same day, according to a Dec. 15 SEC filing.

Subject to certain conditions, Malik will be entitled to receive an aggregate amount equal to 1x currently effective annual base salary, payable in equal monthly installments over a 12-month period after Dec. 31.