Women's fashion leader bebe (NASDAQ:BEBE) has a new face on its board of directors. The specialty retailer announced Monday it has named Narry Singh to join the board, noting his contributions in the world of digital entertainment.
bebe CEO Steve Birkhold said: "Throughout his distinguished career, Narry has combined visionary thinking with an ability to execute on strategy and build growing businesses. His expertise in digital commerce, in particular, will help to reinforce bebe's position as an innovator in the digital space." In 2012, bebe made investments in its digital channels a key component of an omni-channel expansion.
Singh was most recently the "chief business guru" of Outfit7, a leading mobile entertainment company known for its Talking Friends mobile app, which he helped build to more than 650 million users in more than 100 countries.
Non-employee directors for bebe are paid a fee of $4,000 for each meeting they attend in person and $750 for the third and subsequent telephonic meetings attended during a fiscal year. In 2012, each non-employee director received a restricted stock unit award of 3,384 shares and an option to purchase 53,252 shares of our common stock, a number chosen to represent approximately $150,000 in value. The awards vest over four years.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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