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Sharper Image Shakeup

11/10/2006 10:03:00 AM Eastern

San Francisco - Sharper Image president/COO Tracy Wan and executive VP/CFO Jeff Forgan have resigned from their posts, effective immediately.

Wan’s position will be eliminated and her management responsibilities will be assumed by interim CEO Jerry Levin. Levin succeeded founder Richard Thalheimer as chairman and interim CEO of the troubled tech-gift retailer in September.

Daniel Nelson, the company’s senior VP, controller and principal accounting officer, will fill in for Forgan as, interim CFO. Forgan will continue to assist the finance department over the next four months as a consultant.

The company is currently searching for a permanent CEO and CFO.

“We are actively engaged in developing a plan to restore Sharper Image to growth and profitability, create value for our shareholders and capitalize on our great brand name and strong customer base,” said Levin. “We thank Tracy and Jeff for their contributions to Sharper Image through the years, and we wish them well in their future endeavors.”

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