Putting a premium on continuity and stability, Tailored Brands has named Bob Hull and Peter Sachse as Co-CEOs, positions they had held on an interim basis for the past year. In conjunction with the decision, the retailer has promoted John Tighe to President of Tailored Brands.
Retail veterans Hull and Sachse had joined the company’s Board of Directors and stepped into the interim Co-CEO roles in March 2021 upon the departure of then-CEO Dinesh Lathi. Tailored Brands, with banners including Men’s Wearhouse, Jos. A. Bank and K&G Fashion Superstore, had emerged from Chapter 11 bankruptcy in late 2020 and received a $75 million cash infusion from its largest equity holder just prior to Lathi’s departure.
“While we had launched a search for a CEO successor last year, we ultimately determined there was more to be gained by maintaining continuity in the leadership team and allowing this team to realize the full value of the careful planning and reorganization they completed over the past year,” said Paul Soldatos, Board Chairman at Tailored Brands in a statement. “Bob and Peter are exceptionally qualified leaders with the deep expertise needed to continue advancing the company’s progress. We are confident Tailored Brands has the right plan — and the right team — in place and look forward to seeing the results they will deliver.”
Hull’s three decades of retail experience include 17 years at Lowe’s Companies, serving as the retailer’s CFO for the last 14 of those years. Sachse had spent 34 years in various positions at Macy’s,including Chief Stores Officer, Chief Marketing Officer and Chairman and CEO of macys.com.
Prior to joining Tailored Brands, Tighe had served as President of Peerless Clothing and as Chief Merchant and EVP at JCPenney. In addition to end-to-end accountability for Tailored Brands’ retail banners, Tighe also will oversee the company’s Joseph Abboud Manufacturing Corporation.