Spotlight: President, Board Members Quit at L.A. Gear

Unable to revive Santa Monica-based L.A. Gear, President and Chief Executive Stanley Gold quit, followed by seven other board members, as an investment partnership bought a controlling stake in the troubled shoemaker. PCH Investments of Los Angeles purchased 1.1 million shares, an equity stake of 42% of Series B convertible preferred stock of L.A. Gear, from Gold’s Trefoil Capital Investors. Executive Vice President David Gatto was elected to replace Gold.