Francesca's Fires CFO for Improper Use of Social Media

Francesca's Holdings Corporation today announced that it has terminated for cause the employment of Chief Financial Officer Gene Morphis based on an investigation by its board of directors with the assistance of outside counsel, which has found that he improperly communicated company information through social media. The investigation was launched after the company discovered this activity on May 11. Cynthia Thomassee, Francesca's controller since 2007 and vice president of accounting since 2010, will serve as interim chief financial officer.