Tailored Brands confirms leadership team
Tailored Brands announced on Wednesday that board members Bob Hull and Peter Sachse will continue as co-CEOs moving forward.
The company said the move was made “to provide continuity to the organization as it continues to progress its strategic plan.” Additionally, the company promoted John Tighe to president of Tailored Brands.
Hull and Sachse were first appointed as interim co-CEOs and joined the company’s board last year, on March 16. Together, they have solidified the leadership team, refocused key departments and led the company to outperform its revenue and profit targets for each quarter.
Both Hull and Sachse have served as active directors for a number of public and private companies. Hull has three decades of retail experience, including 17 years at Lowe’s Companies where he was chief financial officer for 14 years. Likewise, Sachse previously spent 34 years in various positions at Macy’s, Inc., including chief stores officer, chief marketing officer and chairman and chief executive officer of macys.com.
“While we had launched a search for a CEO successor last year, we ultimately determined there was more to be gained by maintaining continuity in the leadership team and allowing this team to realize the full value of the careful planning and reorganization they completed over the past year,” said board chairman Paul Soldatos.
“Bob and Peter are exceptionally qualified leaders with the deep expertise needed to continue advancing the Company’s progress. We are confident Tailored Brands has the right plan—and the right team—in place and look forward to seeing the results they will deliver.”
Meanwhile, Tighe served as president of Peerless Clothing, the largest manufacturer of men’s and boys’ tailored clothing in North America. Prior to Peerless, he served as the chief merchant and EVP at J.C. Penney.
In his role as president at Tailored brands, Tighe will continue to have end-to-end accountability for merchandising, marketing, e-commerce, rental, planning and allocation across the Men’s Wearhouse, Jos. A. Bank and Moores banners. Moreover, he will now oversee product development, design, global sourcing as well as the Joseph Abboud Manufacturing Corporation.
Hull and Sachse commented on the promotion: “We are extremely fortunate to have John on our team as we move into this next phase of our company’s growth strategy. He brings a holistic view of the product lifecycle and how best to exceed customer expectations from procurement to cart—and everywhere in between. We are thrilled to see him take on additional scope and progress in his career.”
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