TEA CHAIN SHAKEUP CONTINUES
new independent directors as changes continue following a shareholder revolt led by co-founder Herschel Segal that saw the board replaced. The tea shop chain says marketing executive Anne Darche and Susan Burkman, an investment banker, have joined the board. Segal took over as executive chairman and interim CEO earlier this year after the board was replaced and chief executive Joel Silver resigned. The company says the board expects to appoint a lead director at its next meeting, scheduled to be held in September. Segal’s daughter Sarah, who founded Squish Candy, has also returned to her position as vice-president product development and innovation following a paid leave during the heated shareholder battle. Some industry observers have speculated that Sarah is being groomed to take over as the company ’s permanent CEO.