UK clothing company SuperGroup today (14 August) announced that one of its founders, Theo Karpathios, has tendered his resignation and stepped down from the board.

SuperGroup, which owns the SuperDry brand, said the search for a successor is underway.

"Theo, as one of the founders of SuperGroup, can take significant credit for building the company into the international brand it is today and the board would like to thank him for his contribution to the development of SuperGroup on the international stage," said chairman Peter Bamford.

"We are sorry that Theo has decided to stand down from the board and we wish him well in his future endeavours."