Tom Tailor holds exit talks with CEO, CFO

By

Rüdiger Oberschür

Translated by
Barbara Santamaria

Published
Oct 9, 2019

Tom Tailor has confirmed it is in talks with its CEO and CFO about their possible departure after days of intense speculation at the German clothing company.

CEO Heiko Schäfer and CFO Thomas Dressendörfer could part ways with the embattled fashion retailer as early as the end of the month, it is understood.

The board of directors has more than enough reason to seek a change of leadership, not least because of the failed Bonita sale. And perhaps new owner Fosun is seeking a complete overhaul.

Both senior executives had been appointed to serve in their roles until March, when their contracts will automatically expire. There has been no mention about a possible extension, so the exit discussions will probably come as no surprise to Schäfer and Dressendörfer.

Analysts and investors have already begun speculating about their successors. Gernot Lenz, who was most recently CEO of S.Oliver and previously COO at Tommy Hilfiger Global and PVH Europe, is seen as a likely candidate for the CEO seat, according to media reports.