by GEERT DE LOMBAERDE
Home goods retailer Kirkland’s has named Nicole Strain its CFO, cutting from her title the ‘interim’ tag it had since May 2017.
Strain took on the CFO role after former CFO Adam Holland resigned nearly 25 months ago to work at Tivity Health. She had joined the company in November 2016 as controller after having worked at restaurant chains Logan’s Roadhouse and Dick’s Last Resort as well as Correct Care Solutions.
“Nicole has done an outstanding job in her role as Interim CFO, and after an exhaustive search with strong candidates from a variety of backgrounds, the board concluded that Nicole has the broad financial experience and relevant industry knowledge that can best serve Kirkland’s as we transform the business,” said Kirkland’s CEO Woody Woodward. “I’m confident that her passion for excellence will help us further accelerate efforts to improve the customer experience and advance our business improvement initiatives.”
Kirkland’s paid Strain, 45, a base salary of $250,000 last year — as well as a retention bonus of $25,000 — and was bumped to $275,000 this fiscal year.
Her being named permanent CFO comes with a raise to $360,000 per year, a bump in her bonus target to 60 percent of that number and the chance to receive long-term incentives of up to $270,000.
Woodward, Strain and their C-suite compatriots have their hands full these days: Twice in the past four months, investors have hammered the company’s shares following the release of results marred by poor customer traffic and slumping sales.
Kirkland’s shares are down more than 70 percent so far this year — slashing the company’s market value to just $32 million — and closed Monday at $2.27.