Shaked, the company’s co-founder and executive chairman of the board, will now lead the company following the retirement of former CEO Ed Thomas.

“As the co-founder of this 42-year-old company, there is no one who cares about it more deeply than I do,” said Shaked. “I remain fully committed and enthusiastic about making every effort to work toward improving our business.”

Shaked who had been serving as the company’s interim president and CEO since the beginning of the year has served as Tilly’s president and CEO previously in its history.

Shaked has spent his tenure at Tilly’s reviewing all aspects of the business, lending his perspective as the company’s co-founder, and using his extensive experience in the retail industry to work towards improving Tilly’s operating performance.

Over the last eight months, Shaked focused on a comprehensive review of the company's operations, leveraging his extensive retail experience to enhance Tilly's business performance.

Following Tilly’s 7.3% drop in net sales in its Full Year (FY) results ended 3 February 2024 Shaked stated that the company was revisiting and evaluating “any opportunity for potential improvement” by challenging itself to improve despite headwinds from the macro environment” and noted that the Tilly's opportunities for improvement could “take some time to see.”