Sharper Image founder Richard Thalheimer steps down as chairman and CEO

10:40 pm   -   September 26th, 2006

Following nearly two years of poor financial performance, Sharper Image Corp., No. 87 in the Internet Retailer Top 500 Guide to Retail Web Sites, said today that founder Richard Thalheimer has stepped down as chairman and CEO, replaced by former American Household Inc. CEO and turnaround specialist Jerry Levin. By mid afternoon today, Sharper Image’s stock was up more than 6% to about $10.

For Thalheimer, who founded Sharper Image in 1977, the change marks the end of 30-year period during which he built Sharper Image into one of the most effective and innovative multi-channel retailers, selling across four channels of web, TV, catalogs and stores.