Performance fibre specialist The Lycra Company has named its chairman Yafu Qiu and chief commercial officer Julien Born as co-chief executive officers following the retirement of David Trerotola.

Qiu and Born assumed their new roles on 1 April under a co-CEO structure the business said is intended to better implement its new strategic development plan for the next five years. The move is also designed to bring greater operational focus and tap into each leader’s experience and skills in the areas most beneficial to the company to solidify its “industry-leading position” and drive its long-term success.

As co-CEO, Born will lead the overall operations of the company and implement its ambitious growth vision. Qiu, in addition to continuing as chairman, will focus on the company’s relationships with key stakeholders, board governance matters, strategic planning, and capital structure adjustments, including the strategy and timing of an initial public offering.

“The Lycra Company is faced with many new challenges in a fast-developing world,” Qiu said. “We are taking this opportunity to appoint Born and other new management team members to work on a new strategy to further build our brand franchises, expand manufacturing capacity, develop more impactful innovations with our global value-chain partners, lead the industry in sustainability, and accelerate our digital transformation. I am confident that the new management team will be able to further strengthen the leadership role of The Lycra Company in the apparel and personal care industries.”

Trerotola served as the company’s CEO since 2019, following the Ruyi Group’s acquisition of the business. He retires after 20 years of service to The Lycra Company and its predecessor companies. 

Last week, the firm announced it has developed its first performance offerings made from 100% textile waste.

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By GlobalData