Tailored Brands CEO retires

Tailored Brands Inc. will see its Chief Executive Officer Doug Ewert retire as of September 30, the company said on Tuesday.

Ewert, who joined the company in 1995 and has served as Chief Executive Officer since June 2011, will also leave the men’s clothing retailer’s board of directors, but will serve as a strategic advisor to the company until the end of the calendar year.

In the interim, the company has appointed Dinesh Lathi, Non-Executive Chairman of the Board, as Executive Chairman.

The Fremont, Calif.-based specialty retailer equally announced that Bruce Thorn resigned from his position as President and Chief Operating Officer to pursue another opportunity, effective August 31, 2018. He has been named Chief Executive Officer and President at Big Lots Inc.

"It has been my privilege to lead the Tailored Brands team and I am proud of everything that we have accomplished. During my tenure as CEO we have grown revenues from $2.4 billion to $3.3 billion and built the custom suit business into a driver of sales and profitability.”

“We have a compelling business with brands that can win in today's market and I believe that now is the right time to begin the succession process to hand over the reins to new leadership,” said Ewert.

The leadership change was announced in conjunction with preliminary second quarter results. It expects to report GAAP diluted EPS in the range of $0.95 to $0.97 and adjusted diluted EPS in the range of $1.05 to $1.07.

It will report its full fiscal 2018 second quarter results on September 12, 2018 after market close.

Tailored Brands CEO retires

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