The board of directors of IC Group A/S has announced through a statement that CEO of Tiger of Sweden, Hans-Christian Meyer, has resigned with immediate effect and that the development would have no impact on the group's outlook for the financial year 2018/19.
In its recent trading update on February 6, the company said that it expects a minor revenue reduction measured in local currency for the full year, while EBIT margin is expected at a level of 1 to 2 percent prior to non-recurring costs in respect of the transformation of the group. For Tiger of Sweden, the company added, a minor revenue reduction measured in local currency and a moderate decline in nominal earnings are expected compared to prior outlook of increase in revenue and nominal earnings at the same level as last financial year.
Meyer had joined the business in 2017 with over 25 years of experience working within the fashion industry. Before Tiger of Sweden, he had spent 11 years at Ralph Lauren, where he served as president retail, EMEA and was part of their global senior management team. Prior to that Meyer served as senior vice president and managing director, Scandinavia, and Baltics working across multiple distribution channels inclusive of wholesale and directly-operated retail.
Picture:Facebook/Tiger of Sweden