Brookstone Inc. has accepted the resignation of Ron Boire, president and CEO and a member of the company’s board of directors. Boire will be joining Sears Holdings Corp. as its new executive vice president, chief merchandising officer and president of its Sears and Kmart formats. Boire joined Brookstone in 2009.

“Brookstone has been fortunate to have Ron’s leadership over the last two years. He successfully implemented numerous new business initiatives that will have a lasting impact on the Company’s continued growth and success. We thank Ron for his many contributions to Brookstone and wish him well in his future endeavors,” Adam Suttin, a partner of J.W. Childs Associates and a director of the company since 2005, said.

Effective upon Boire’s resignation, Jackson Tai, the company’s chairman of the board, will also serve as interim president and CEO while the company undertakes a search for a permanent successor for Boire.

Tai has been a director since August 2008 and non-executive chairman of the board of directors since February 2009. Tai was vice chairman and CEO of DBS Group Holdings until 2008. Prior to his eight years of service with DBS in Singapore, he served 25 years with J.P. Morgan & Co. as a managing director in the Investment Banking Division, holding management positions in New York, Tokyo and San Francisco. Tai is a director of NYSE Euronext, the Bank of China Limited, MasterCard Incorporated, Royal Philips Electronics NV, Singapore Airlines and privately-held Cassis International.

Tai, 61, holds a master of business administration from Harvard University and a bachelor of science from Rensselaer Polytechnic Institute.

Brookstone also announced that James M. Speltz has been appointed as the company’s vice president, chief operating officer. Speltz has been with the company since 1998. Most recently, he has served as the company’s vice president, business development and supply chain since January 2011, and previously held positions as the operational vice president of inventory management and various roles in the company’s IT department.

“On behalf of the board of directors and myself, we look forward to working with Jim in his new role,” Tai said. “For more than 13 years, Jim has been intimately involved in many critical aspects of the Company’s operations and has been a key driver of the company’s new business initiatives in the wholesale and licensing areas. His hands-on leadership and his strong operating insight will be invaluable as the Company takes steps to meet the challenges presented by the current retail environment.”

Speltz looks forward to his new position.

“Everyone at Brookstone is deeply committed to product excellence and the first-rate service our customers have come to expect from us,” Speltz said. “I am proud to be able to continue working with Jack and our existing management team which has provided unparalleled leadership and strong support across all areas of the Company. I look forward to building upon the strength of the Brookstone brand, continuing the significant progress we have made over the past few years, and expanding upon our business development initiatives.”

Thomas Moynihan, the company’s vice president, chief financial officer, reported that while the company has not yet reconciled its 2011 year-end accounts, it anticipates that its 2011 sales increased at least 5 percent over fiscal year 2010, and that it will have an estimated increase in its EBITDA of at least 20 percent over fiscal year 2010. The company’s cash balances remain healthy and will be approximately equal to its 2010 year end levels, Moynihan said.

“We continue to be encouraged by our improving operational and financial results despite the difficult macro-economic environment. Our new initiatives, including our online marketplace and expanding wholesale and licensing divisions, have been important pieces of our continued success and will be critical to the company’s future growth.”