Vera Bradley Inc. shares reversed early gains Wednesday to trade sharply lower, after the company announced some executive changes on its earnings call. The company said Beatrice Mac Cabe has been named its chief creative officer, while founder Barbara Bradley Baekgaard will take a smaller role to give her time to pursue other projects outside the company. Theresa Palermo, executive vice president for marketing, is leaving and will be replaced by Stephanie Scheele as interim chief marketing officer. Shares fell about 9%, after earlier gaining about 8% premarket when the company posted better-than-expected earnings. On the call, executives gave further detail on its Vision 2020 plan, which will move it to a less clearance driven business model and cut sales and marketing costs. Shares have fallen 22% in 2017, while the S&P 500 has gained 10%.
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