- Danielle Wightman-Stone |
Superdry has appointed Dennis Millard as a senior independent director and John Smith as a non-executive director, with effect from February 1, 2018.
Millard, who is currently the chairman of Halfords and deputy chairman and senior independent director of Pets at Home, will sit on the Nomination and Remuneration Committees while Smith, who was chief operating officer of Burberry until June this year, will join the Remuneration and Audit Committees.
Peter Bamford, chairman of Supergroup, said: "I am delighted that Dennis Millard and John Smith are joining our Board. They both bring skills and experiences which will strengthen the Board and help deliver the next stage of our growth strategy and progress towards becoming a global digital brand.
“Dennis has extensive PLC board experience including roles as chairman and senior independent director of major retail companies. John has had direct experience of building global brands and developing digital capabilities in the fashion and creative industries.”
In addition, Superdry's current senior independent director, Keith Edelman, will step down from that role on February 1, but will remain a non-executive director. At the end of March, he will also step down from the audit committee.
Bamford added: “I would like to thank Keith Edelman for all of his work and contribution and for the wise counsel and support he has provided to me as chairman and to the other directors in his time as senior independent director."
Superdry also announced that it expects to complete the buy-out of the operations of its wholesale agent, Portare B.V, in January 2018 for an estimated payment of 2 million pounds. Portare will continue to be the preferred franchise partner in the territory.
The transaction will be settled in cash on completion and is anticipated to payback within two years, including the additional cost of the necessary wholesale infrastructure, as a result of reduced commission payments.
Superdry chief executive officer, Euan Sutherland, said: "The buy-out of our Netherlands agent is consistent with the development strategy we have applied to other markets and demonstrates our confidence in the future growth of the Dutch market. It is a further example of our flexible, disciplined approach to building both the Superdry brand and shareholder value in each market in which the brand is present.”
- Prachi Singh |
Luxottica Group has announced that its chief executive officer for product and operations Massimo Vian has left the company three months before his term expires and the group will consolidate executive responsibilities in the hands of the Executive Chairman Leonardo Del Vecchio and the Deputy Chairman Francesco Milleri, who also assumes the position of Chief Executive Officer. Additionally, Stefano Grassi, Chief Financial Officer of the group, has been appointed to Luxottica’s board of directors.
"We thank Massimo for his contributions over the past thirteen years. He brought passion and energy to defining a modern and innovative operations organization. Also thanks to him today, Luxottica has a strong team of managers who share the same focus on quality and innovation. We wish him every success in his future professional endeavors," said Leonardo Del Vecchio, Founder and Chief Architect of the group's culture and strategic vision in a statement.
“We have almost completed the group’s reorganization and simplification process, which was started more than three years ago. We have gone through a number of intermediate steps to give the organization the time to absorb and optimize the numerous business and production innovations. Today's decision aims at making Luxottica even faster and more proactive, with the group’s leadership focused on strategies and an articulated geographical organization that is closer to the needs of all our customers,” added Leonardo Del Vecchio.
“I thank Luxottica and its Chairman Leonardo Del Vecchio for this journey which lasted thirteen years. I leave the office close to the expiration of my term, aware of my contribution, and wish that the new chapter of the great history of Luxottica will continue to be rich and full of successes," added Massimo Vian.
Picture credit:Francesco Milleri via Luxottica
- Prachi Singh |
Iconix Brand Group has said in a statement that current chairman of the board, Peter Cuneo, will assume the role of executive chairman, effective immediately. The company added that as Executive Chairman, Cuneo will be focused on evaluating strategic opportunities, overseeing the financial and legal functions and working towards stabilizing the company's balance sheet. Meanwhile, John Haugh will continue to serve as the company's Chief Executive Officer and will remain focused on the core licensing and brand management functions.
Commenting on the development, Haugh said in a media release, "Peter Cuneo is a recognized leader in business turnarounds with intimate knowledge of the Iconix operating model. I am thrilled to have Peter rejoin the management team of the company in his new role as Executive Chairman of the board. Peter's involvement will free up more time for me to focus on our core licensing business while evolving the company to generate future growth."
"Iconix is going through a challenging time right now, and we need to be laser focused on building the core business operations, while we also evaluate strategic opportunities and work towards a balance sheet solution. By defining the role of Executive Chairman, and increasing my involvement in the strategic and financial direction of Iconix, the board has recognized the importance of having our CEO, John Haugh, dedicate the bulk of his time to driving growth within our brand portfolio," added Cuneo.
Cuneo has served on Iconix' Board since October 2006 and previously held the position of interim chief executive officer from August 2015 to April 2016. The company added that Cuneo is a recognized leader in business turnarounds and since 1983, he has completed seven turnarounds of distressed branded businesses in the global entertainment and consumer products sectors.
Picture:Artful Dodger website
- Prachi Singh |
Cherokee Global Brands has announced the resignation of Jason Boling as chief financial officer effective January 31, 2018, and the appointment of Steven Brink to the role. The company added that the appointment of Brink as chief financial officer of Cherokee Global Brands will be effective January 2, 2018.
“ Throughout his tenure, Jason and his finance team played a key role in reviewing and integrating several strategic acquisitions including Tony Hawk Signature, Flip Flop Shops, Everyday California and most recently, the Hi-Tec portfolio of brands. I respect Jason’s decision to pursue new opportunities and thank him for maintaining high standards of financial compliance during his time with us,” said Henry Stupp, Chief Executive Officer in a statement.”
Commenting on his decision to pursue new career path, Boling added, “It has been a privilege to work with the extraordinary team at Cherokee Global Brands over the past five years. The decision to leave is made easier knowing that a dedicated and talented finance organization is in place that will continue to support Cherokee Global Brand’s future success.”
Steven Brink appointed new CFO at Cherokee Global Brand
In his role as chief financial officer, the company said, Brink will be responsible for overseeing Cherokee Global Brand’s financial functions including accounting, forecasting and investor relations. He will report directly to Henry Stupp.
“I’m pleased to welcome Steve in his new role,” Stupp further said, adding, “Steve is a proven financial leader with deep experience in our focus categories, having served in several leadership positions with public and private global apparel companies. As we look towards our next phase of growth, Steve’s track record of scaling global brands, along with his extensive M&A experience, will prove invaluable. Steve will play a vital role to ensure that Cherokee Global Brands maintains its solid financial foundation as we embark on key growth initiatives in 2018 and beyond.”
Brink has held CFO roles at leading public and private global apparel companies, including Quiksilver, Inc. and NYDJ Apparel, LLC. He provided financial management, strategic planning, accounting, tax and treasury support, while offering guidance through multiple mergers and acquisitions. Revenues doubled at NYDJ Apparel during his tenure, and while he was CFO of Quiksilver, Inc., it grew from 200 million dollars to over 2.4 billion dollars, the company added.
- Kristopher Fraser |
It’s the next round of designer musical chairs, and next up is Diesel’s artistic director Nicola Formichetti. The designer, who is also the force behind Nicopanda, announced this morning on social media that him and the brand would be parting ways after nearly five years. Formichetti first joined the brand in 2013 as their first artistic director.
His contract is set to expire at the end of the year, and his departure from the brand appears to be very amicable. Diesel founder Renzo Russo thanked Formichetti for the work he has done for the brand, and didn’t immediately name a successor. Instead, he appears to be exploring a different design model for Diesel that doesn’t involve a chief artistic director in the face of a changing market.
Nicola Formichetti’s contract with Diesel comes to an end
Formichetti took to Instagram to say “All great things come to and end, and this December I will be stepping down as artistic director of @diesel .Thank you all at diesel for the most amazing 5years!! And thank you @renzorusso for allowing me to be creative. It was so much fun!!! Wishing Diesel all the best for the next chapter.”
In the face of his departure from Diesel, Formichetti’s Nicopanda brand has been elevating its profile. The brand has recently debuted collaborations with Urban Outfitters and Champion. He will also be going forward with his partnership with Uniqlo.
Earlier this year, Formichetti teamed up with Amazon Style Europe for a Nicopanda capsule collection, which was a proven success. Nicopanda is expected to announce a collaboration with a major retailer soon. For 2018, the brand also has plans to expand their wholesale business.
In addition to his design projects, Formichetti is also creative director of his own magazine, Free. He is still working on styling projects too, having recently collaborated with Mario Testino. Formichetti is also known for his work as Lady Gaga’s stylist when her popularity skyrocketed in 2009.
Although it’s the end of an era for Diesel, it’s just the next chapter for Formichetti.
Photo: Paul Zimmerman / GETTY IMAGES NORTH AMERICA / AFP
- Prachi Singh |
At its meeting on December 13, the supervisory board of Lenzing AG decided to reappoint Stefan Doboczky as the company’s Chief Executive Officer. The company said in a statement that Doboczky’s new contract will begin on June 1, 2018 and runs until the end of 2022.
“In recent years, Stefan Doboczky and his colleagues on the management board have been able to make excellent use of the favourable market conditions on the basis of the previous restructuring in order to transform an Austrian company with foreign investments into a truly global player with strong Austrian roots. We are very pleased that Stefan Doboczky will continue to dedicate himself to these tasks over the next five years,” said Hanno Bästlein, Chairman of the Lenzing supervisory board commenting on Doboczky’s reappointment.
In addition to Doboczky, the management board of Lenzing AG consists of Chief Commercial Officer Robert van de Kerkhof, Chief Financial Officer Thomas Obendrauf and Chief Technology Officer Heiko Arnold.
Picture credit:Stefan Doboczky via Lenzing
- Prachi Singh |
Calida Group has announced that Thomas Stöcklin, Chief Financial Officer (CFO) of the company has put in his papers to accept a new professional challenge and will therefore leave the group by the end of June 2018.
"Board of directors and management regret the departure of Thomas Stöcklin. We wish him all the best for the future," said Reiner Pichler, CEO of Calida Group in a media statement.
The company added that the regulation of succession will be initiated immediately. Stöcklin has been with Calida since 2011 as in-charge of the finance and controlling as well taxes departments.
- Angela Gonzalez-Rodriguez |
The founder of Inditex, Amancio Ortega, has left his positions in 53 subsidiaries of the textile group, six years after having ceded the presidency of the group to Pablo Isla. With this gesture, the founder of the largest fashion retail group in the world kicks off his retirement
The businessman, who left the executive functions of Inditex in 2011, was listed as joint agent in more than fifty subsidiaries linked to the group's brands, and also to the logistics, design or supervision of the brands that make up Inditex.
Amancio Ortega retires from Inditex
Sources of the sector indicate that it is "a mere administrative procedure that ends the process started in 2011" (when it ceded power to Isla) but they clarify that Ortega continues to be the owner of 59.9 percent of Inditex through its investment vehicle, Pontegadea.
The revocations of the positions of the founder of Inditex have appeared published in the Mercantile Registry of La Coruña, coinciding with the publication of the group's quarterly accounts.
Pablo Isla, CEO of Inditex, recently defended that the "most important business figure in the history of Spain" is that of his predecessor and founder of the company, Amancio Ortega. Isla praised the "culture" that the creator of Zara has transmitted to the rest of the company, based on the "entrepreneurial spirit, teamwork, non-protagonism and ambition with humility", characteristics that he defined as characteristic of the Coruñés textile group "in all departments and in all countries."
Image:Amancio Ortega. Inditex
- Vivian Hendriksz |
TIMELINE London - Jonathan Saunders has stepped down from his role as Chief Creative Officer at DVF with immediate effect. His exit comes days after Diane von Furstenberg confirmed she was seeking out an internal investor to take a stake in the fashion company.
Saunders first joined the fashion company in May 2016, after closing his eponymous label at the end of 2015. He was in charge of DVF's overall creative direction, including product design, store design, website layout in addition to developing a new brand identity for DVF.
Jonathan Saunders exits role at DVF
“I am grateful for Diane’s support and for the opportunity of guiding this iconic brand. I am so proud of everything we have accomplished in the past 18 months. I thank the incredible team for their dedication and support, and will continue to be a friend and admirer of the brand,” Saunders said in a statement to WWD.
The Scottish designer's final collection for DVF will be pre-fall 2018, shown earlier this month. “I am so thankful for Jonathan’s beautiful work and the effort and dedication he has put into DVF in the last 18 months. He will leave an important and lasting heritage to the brand,” added von Furstenberg.
Saunders was the first-ever CCO and planned successor at DVF, and was given full creative license across the brand, including overseeing its advertising and marketing campaigns. At the time of his appointment, von Furstenberg stressed that Saunders new role at DVF helped facilitate her moving away from the daily duties linked to the role of a creative director, giving her more time to focus on her philanthropic work as well as her role as chair of the Council of Style Designers of America.
DVF has yet to reveal if it has begun its search for a successor. Saunders sudden departure from the New York-based fashion brand comes as it faces a number of challenges concerning its position in department stores. The label has been operating without a Chief Executive Officer since November 2016, with former CEO Paolo Riva left the brand. Von Furstenberg stressed that her family would become more involved with the business at the time.
Saunders departure comes as DVF seeks out a new investor. Its founder previously hired Michel Dyens & Co, a leading independent investment banking firm, to explore future options as she seeks out an investor to help attract leadership to ensure DVF becomes disruptive in the digital world and "create a real legacy brand."
Yankeemagazines has ed DVF for additional commentary concerning the exit of Jonathan Saunders. Following Saunders exit from DVF, Yankeemagazines has gathered together milestones from his career in the timeline below.
Use the arrows to navigate through the events ordered by date or click on a time frame (in the gray bar) to learn more.
Photo: Jonathan Saunders SS16 © Catwalkpictures.com
- Prachi Singh |
After a 10-month battle with shareholder Marcato Capital Management that owns an 8.5 percent stake in the firm, Deckers Brands has announced that based on the preliminary vote count following its 2017 annual meeting of stockholders.
The company said in a statement that the outcome reaffirms that the company is on the right track. “We remain focused on continuing our strategic transformation as we optimize our retail strategy, improve operating profits, refresh our board and return capital to stockholders,” it added.
Deckers further said that stockholders have voted to re-elect all of Deckers’ directors – John M. Gibbons, Karyn O. Barsa, Nelson C. Chan, Michael F. Devine III, John G. Perenchio, David Powers, James E. Quinn, Lauri M. Shanahan and Bonita C. Stewart – to the Deckers board.
Picture:Deckers Brands website