Tailored Brands, Inc. has announced that board members Bob Hull and Peter Sachse will continue as co-CEOs moving forward to provide continuity to the organisation.
The company said in a release that Hull and Sachse were both appointed as interim co-CEOs and joined the company’s board on March 16, 2021. Since that time, they have solidified a strong and united leadership team, refocused key departments and led the company to outperform its revenue and profit targets for each quarter.
Commenting on the development, board chairman Paul Soldatos stated: “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 realise the full value of the careful planning and reorganisation they completed over the past year.”
Bob Hull and Peter Sachse to continue as co-CEOs of Tailored Brands
Hull and Sachse, the company added, are seasoned leaders with experience leading large-scale organisational transformations and building high-performing teams. Both have served as active directors for a number of public and private companies as well.
Hull has three decades of retail experience, including 17 years at Lowe’s Companies with the last 14 years as chief financial officer. 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.
Tailored Brands names John Tighe as president
In conjunction with this decision, the company said, John Tighe will be promoted to president of Tailored Brands.
In this new role, 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 and will now oversee product development, design, global sourcing as well as the Joseph Abboud Manufacturing Corporation.
Before joining Tailored Brands, 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 JCPenney.
Hull and Sachse commented on Tighe’s promotion, saying: “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 life cycle and how best to exceed customer expectations from procurement to cart—and everywhere in between.”