Apparel maker Hampshire Group has announced that Michael S Culang has resigned as president and chief executive officer and as a director of the company.

Richard Mandell has replaced him as president and CEO, having served as a director of the US firm since April 2008.

Mandell also serves as a director of Encore Capital Group, for which he served as the chairman of the board of directors from October 2004 until May 2007.

From January 1986 to February 1998, Mandell was a vice president — private investments of Clariden Asset Management (NY), a subsidiary of Clariden Bank, a private Swiss bank. In addition he serves on the board of directors of Trian Acquisition I Corp.

In addition, Hampshire has appointed Heath L Golden as executive vice president and chief operating officer.

The company is currently party to a merger agreement with NAF Holdings and NAF Acquisition Corp, and subject to the terms and conditions of the merger agreement NAF Acquisition Corp has commenced a cash tender offer to purchase all of the outstanding shares of common stock of the company at $5.55 per share.

The offer is scheduled to expire at 5pm New York City time tomorrow (17 April), Hampshire added.