Tommy Bahama president and COO Douglas Wood is to take the helm at the Oxford Industries-owned lifestyle brand following the retirement of CEO Terry Pillow. 

Pillow, who will retire from his position at the end of the company's fiscal year on 30 January 2016, will continue with Oxford in an advisory role.

Since joining Oxford in June 2008, he has propelled the business forward and enhanced the depth and breadth of the Tommy Bahama brand. 

Meanwhile, Wood joined Tommy Bahama in 2001 as COO and was named president in 2008. He has been responsible for all aspects of Tommy Bahama's financial and operating functions. 

With his leadership, the  brand has grown from a $200m wholesale-focused company into a US$600m plus lifestyle brand driven by its direct to consumer business. 

Oxford lifted its full-year outlook despite swinging to a loss of $2m in the second quarter. Sales increased 10% to $250.7m, primarily due to growth at Lilly Pulitzer and Tommy Bahama, while gross margin improved to 60.3%.