Wet Seal chairman retires

Teen clothing retailer The Wet Seal Inc. said Monday that its chairman, Alan Siegel, has retired from the company's board of directors.

Harold Kah, who joined the board in 2005, has been named his successor.

Siegel, 74, served on the board for nearly 20 years but said it was the appropriate time to retire and attend to personal commitments.

Shares of Wet Seal rose 7 cents to close at $3.47 Monday.