Bob Hull And Peter Sachse to Serve as Co-CEOs, John Tighe Appointed President
HOUSTON–(BUSINESS WIRE)–Tailored Brands, Inc. (the “Company”) today announced that Board members Bob Hull and Peter Sachse will keep as co-CEOs moving forward to provide continuity to the organization as it continues to progress its strategic plan.
Mr. Hull and Mr. Sachse were both appointed as Acting co-CEOs and joined the Company’southward Board on March 16, 2021. Since that fourth dimension, they take solidified a strong and united leadership team, refocused key departments and led the Company to outperform its revenue and profit targets for each quarter.
Mr. Hull and Mr. Sachse are seasoned leaders with feel leading large-calibration organizational transformations and edifice high-performing teams. Both have served as agile directors for a number of public and individual companies equally well. Mr. Hull has three decades of retail feel, including 17 years at Lowe’s Companies with the last xiv years as Chief Financial Officer. Mr. Sachse previously spent 34 years in various positions at Macy’s, Inc., including Master Stores Officer, Main Marketing Officeholder and Chairman and Chief Executive Officeholder of macys.com.
Lath Chairman Paul Soldatos stated, “While we had launched a search for a CEO successor last year, nosotros 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. Bob and Peter are exceptionally qualified leaders with the deep expertise needed to continue advancing the Company’due south progress. Nosotros are confident Tailored Brands has the right plan—and the right team—in place and await forwards to seeing the results they will deliver.”
In conjunction with this decision, John Tighe will be promoted to President of Tailored Brands. In this new function, Mr. Tighe will continue to accept end-to-terminate accountability for merchandising, marketing, e-commerce, rental, planning and allocation beyond the Men’s Wearhouse, Jos. A. Banking concern and Moores banners and volition now oversee product evolution, pattern, global sourcing as well as the Joseph Abboud Manufacturing Corporation.
Before joining Tailored Brands, Mr. Tighe served as President of Peerless Clothing, the largest manufacturer of men’s and boys’ tailored article of clothing in North America. Prior to Peerless, he served every bit the Main Merchant and EVP at JCPenney.
Mr. Hull and Mr. Sachse commented on Mr. Tighe’s promotion, stating, “We are extremely fortunate to have John on our team every bit 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 boosted scope and progress in his career.”
Mr. Tighe said, “I’one thousand thrilled to take this opportunity to piece of work with an even broader group of colleagues to integrate and amend our end-to-end customer journeying, accelerate progress and unlock even more value. I have been immensely impressed by the talent and creativity of this entire team and wait forward to this next chapter.”
About Tailored Brands, Inc.
Tailored Brands is a leading omnichannel specialty retailer of menswear, including suits, formalwear and a broad pick of business casual offerings. We help our customers look and feel their best by delivering personalized products and services through our user-friendly network of stores and e-commerce sites. Our brands include Men’due south Wearhouse, Jos. A. Banking company, Moores and M&Chiliad Fashion Superstore.
For additional information on Tailored Brands, please visit the Company’s websites at www.tailoredbrands.com, www.menswearhouse.com, www.josbank.com, www.mooresclothing.ca, and www.kgstores.com.
This press release contains forrard-looking information, including the Visitor’south statements regarding its revenues, profits and performance. In addition, words such equally “volition,” “expects,” “anticipates,” “envisions,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance,” “may,” “projections,” and “business organisation outlook,” variations of such words and similar expressions are intended to identify such forward-looking statements. The frontwards-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Whatever forward-looking statements that we make herein are not guarantees of future functioning and bodily results may differ materially from those in such forward-looking statements equally a result of various factors. Factors that might crusade or contribute to such differences include, merely are not limited to: risks related to the effectiveness of the restructuring and strategic activities completed during and subsequent to the Company’s Chapter 11 procedure and any additional strategies that the Visitor may employ to address its business including its liquidity and upper-case letter resources; the effects of the COVID-19 pandemic and uncertainties about its depth and duration, including the health and well-existence of our employees and customers, temporary or permanent store closures and our ability to concenter customers to reopened stores, re-emergence or additional periods of increases or spikes in the number of COVID-xix cases, the availability, credence and charge per unit of vaccinations and other medical treatments, increases in the unemployment rate and recessionary pressures, furlough or temporary layoffs of our employees and our ability to reinstate, incentivize and retain previously furloughed employees, social distancing measures and changes in consumer spending behaviors; actions or inactions by governmental entities; domestic and international macroeconomic atmospheric condition; inflation or deflation; the Company’s ability to attract, motivate and retain primal personnel and effectively manage succession; success, or lack thereof, in formulating or executing our internal strategies and operating plans; cost reduction initiatives and tax strategies; changes in demand for our retail clothing or rental products, including changes in dress trends and changing consumer preferences; market trends in the retail or rental business; customer conviction and spending patterns; changes in traffic trends in our stores and in client preferences in the omnichannel experience; client credence of our merchandise strategies, including custom clothing and polished casual attire; operation issues with cardinal suppliers; disruptions in our supply chain; trade relations; severe atmospheric condition; regional or national civil unrest or acts of civil disobedience; public health crises, including COVID-19; foreign currency fluctuations; regime export and import policies, including the enactment of duties or tariffs; advertising or marketing activities of competitors; the bear on of cybersecurity threats or data breaches; legal proceedings; and the impact of climatic change.