Clothing chain Charles Voegele Holding AG on Tuesday announced a senior management reshuffle as part of its new corporate strategy.

The fashion retailer said in a press release that CEO Daniel Reinhard, and head of IT, Organisation and logistics, Marcus Arnoczky have been joined by new CFO Felix Thoeni and head of buying Serge Brugger.

The company, which operates stores in Switzerland, Germany, Austria, Belgium and the Netherlands, added that as part of the reorganisation, Reinhard will also assume operational responsibility for sales at group level.

Last month, the firm posted a 65.8 per cent year-on-year plunge in first half net profit to $8.5 million as it was hit by inventory costs and currency losses and said it expects consumer confidence to remain weak during the second half.