On June 14, 2013, Michael Searles, President and Chief Operating Officer, South Hill Division of Stage Stores Inc., resigned from the company to pursue other interests due to the consolidation by the company of its South Hill, Virginia regional operations into its Houston, Texas corporate headquarters. On June 19, 2013, Michael Searles and the Company entered into a Separation Agreement, which terminated Mr. Searles' Employment Agreement dated September 12, 2011.