U.S. retail company Tailored Brands announces CEO transition
In December 2020, Tailored Brands successfully completed its Chapter 11 restructuring, and earlier this month the company announced new funding of $ 75 million. After these events, and as the company’s performance begins to recover from the impacts of the COVID-19 pandemic, the board of directors and Lathi have mutually agreed that now is the right time to reassess skills and competencies. necessary experiences in the role of CEO as the company prepares. for its next chapter of growth and success, Tailored Brands said in a press release.
“It has been a pleasure to work as part of the talented and dedicated team at Tailored Brands, and I would like to thank all of my colleagues for their support and many contributions over the past five years. I believe in the power of our brands and believe that the hard work we have done together has put the company on the path to long-term growth and success. I will be supporting everyone at Tailored Brands as you take these next steps, ”Lathi said in a statement.
“With a solid financial structure now in place and the support of its new owners, Tailored Brands is well positioned for growth in its next chapter. We are extremely grateful for Lathi’s contributions as a director and executive of the company over the past five years, and in particular for his leadership in successfully guiding the company through restructuring and the unprecedented challenges of the company. global pandemic. We wish him the best of luck in all his future endeavors, ”said Hull.
“The Tailored Brands team is incredibly strong, and even in the midst of the pandemic, Lathi has guided them to make smart investments to strengthen brands and the value proposition they deliver to customers. As a result, the company now offers improved online and omnichannel options to shop seamlessly across all channels, piloting new in-store experiences to make shopping safer and more enjoyable, and offering an assortment of products. expanded. We will continue to accelerate this progress to meet the changing needs of our customers and ensure that we earn their loyalty every day by helping them look and feel better for the times that matter, ”said Sachse.
Fibre2Fashion Information Office (GK)
Tailored Brands has announced that Dinesh Lathi will step down as President and CEO, effective March 26, 2021. Board members, Bob Hull and Peter Sachse, will act as interim co-CEOs while the Conseil is looking for a permanent successor. Tailored Brands is an American retail holding company for various men’s clothing stores.