Escada's CEO to step down

Escada's chief executive officer officer Glenn McMahon is set to step down from his role on July 31, after a short 7 month tenure. His departure is said to be due to personal reasons, reported WWD.

Chief operating officer Jörg Wahlers will act as CEO in the interim as Escada begins its search for a new chief executive. Wahlers joined the German fashion label last year from ceramics producer Villeroy & Boch.

McMahon replaced Bruno Sälzer, who left the role at Escada last year. In an official statement on his exit, he said: "I have enjoyed the opportunity to work at Escada and we have set a good framework for the future of the brand. I wish Escada all the best."