Tom Tailor names new CEO

By

Isabel LEONHARDT

Published
Oct 21, 2019

It's official: Gernot Lenz is taking over as CEO of Tom Tailor on November 1. Lenz replaces Heiko Schäfer, whose resignation is effective as of October 31.

Lenz was most recently CEO at the S.Oliver Group. Prior to that, he served as Chief Operating Officer of Tommy Hilfiger Global and PVH Europe in Amsterdam, where he was responsible, among other things, for the digital transformation and operational management of Tommy Hilfiger and Calvin Klein's European e-commerce business. Previously, Lenz worked as a strategy consultant for Bain & Company.
 
The brand's former CEO, Schäfer, was a member of the executive board from December 2015 (initially as COO) and was appointed CEO in September 2016.

The new CEO will be facing a challenge in his new role as the Tom Tailor group currently undergoes major changes. Earlier this month, it revised its annual guidance downwards. It also recently reached an agreement with its Chinese majority shareholder Fosun and its banks for a new credit facility to see it through to September 2022. The sale of its ailing subsidiary Bonita remains uncertain.