The ailing Hamburg fashion chain Tom Tailor gets a new boss. On November 1, Gernot Lenz takes over the position of CEO of Heiko Schäfer. Schäfer resigns his mandate at his own request, as the company announced.
Schäfer has been a member of the Executive Board since 2015 and was appointed CEO in 2016. Lenz, who is now to follow in his footsteps, most recently headed the fashion company S.Oliver Group. Previously, he had been a member of the board of Tommy Hilfiger.
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At the beginning of October, the company announced that a change of boss might be imminent. At this point in time, the Supervisory Board had already held talks with the Chairman of the Executive Board regarding "early departure from the company".
The fashion chain had recently gained time in the struggle for a refurbishment. The agreement on bridge financing with syndicate banks and Tom Tailor was extended in August, initially until mid-September and a month later until the end of October 2019.