Tailored Brands, Inc. has announced that Dinesh Lathi will step down from his role as president and chief executive officer, effective March 26. The company said in a statement that board members Bob Hull and Peter Sachse will act as Interim Co-CEOs while the board searches for a permanent successor.
“It has been my pleasure to work as part of the talented and dedicated Tailored Brands team, and I want to thank all of my colleagues for their support and many contributions over the past five years,” said Lathi.
In December 2020, Tailored Brands completed its Chapter 11 restructuring, and earlier this month, the company announced 75 million dollars in new financing. After these events, and with business performance beginning to recover from the impacts of the Covid-19 pandemic, the company added that the board and Lathi mutually agreed that this is the right time to re-evaluate the skills and experiences needed in the CEO role as the company prepares for its next chapter of growth and success.
“With a solid financial structure now in place and the support of its new owners behind it, Tailored Brands is well positioned for growth in its next chapter,” added Hull.
Image: Men's Wearhouse, Facebook