Hull and Sachse were appointed as Interim co-CEOs of Tailored Brands on 16 March 2021 as CEO Dinesh Lathi announced his resignation.
The same month, Tailored Brands, which owns the Men’s Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G brands, announced the closing of a US$75m investment by a group of existing shareholders and lenders to bolster its strategic plans post Chapter 11.
It emerged from Chapter 11 protection in December having completed its financial restructuring after filing in August.
Since their appointment, Hull and Sachse have refocused key departments and led the company to outperform its revenue and profit targets for each quarter, Tailored Brands said.
Hull has three decades of retail experience, including 17 years at Lowe’s Companies with the last 14 years as chief financial officer while Sachse previously spent 34 years in various positions at Macy’s, Inc., including chief stores officer, chief marketing officer and chairman and chief executive officer of macys.com.
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Board chairman Paul Soldatos said: “While we had launched a search for a CEO successor last year, we ultimately determined there was more to be gained by maintaining continuity in the leadership team and allowing this team to realise the full value of the careful planning and reorganisation they completed over the past year. Bob and Peter are exceptionally qualified leaders with the deep expertise needed to continue advancing the company’s progress. We are confident Tailored Brands has the right plan—and the right team—in place and look forward to seeing the results they will deliver.”
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