It was Doug Ewert’s choice to leave Tailored Brands, but his departure as chief executive officer is also seen as an opportunity to get some fresh blood into the company.
That was the consensus of the men’s wear community on Wednesday as they continued to digest the surprise news late Tuesday that the longtime leader of the Fremont, Calif.-based company would be exiting at the end of September. Ewert, 54, said after the market closed on Tuesday that he would be retiring after a 23-year career with the men’s wear retailer.
Wall Street was apparently not rattled by the news since the company’s stock rose 4 percent Wednesday to close at $ 23.39.
On Wednesday, Ewert told WWD he would be open to providing more details about his decision and future plans after the company’s earnings are released on Sept. 12.
Coincidentally, the news of Ewert’s impending departure came at the same time Bruce Thorn, president and chief operating officer, said he too would be leaving Tailored Brands. Thorn, 51, has been named president and ceo of Big Lots Inc. He will assume that role at the end of September.
Once both Ewert and Thorn are gone next month, that leaves Tailored Brands without its two
Follow WWD on Twitter or become a fan on Facebook.