Tom Tailor makes changes to supervisory board
Tom Tailor has announced that Thomas Tochtermann is resigning from his role as chairman of the supervisory board. He will leave the company after a new chairman has been appointed, but no later than June 25, the German clothing brand said.
The decision was by “mutual agreement” and at the request of majority shareholder Fosun International, which wants to have stronger representation on the supervisory board as the company continues its bid to fight declining sales. Fosun said Tochtermann’s departure was a prerequisite for its further participation in the ongoing turnaround.
Jenny Junyang Shao, a member of the supervisory board, will take over as chair following Tochtermann’s resignation.
Additionally, Michael Chou, chief financial officer of Fosun Fashion Group will join the board as a non-executive member.
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