Robert W D'Loren has resigned as chief executive officer of global brand manager NexCen Brands Inc, and will be replaced by the company's executive vice president, chief financial officer and treasurer, Kenneth J Hall.

Company chairman David S Oros said: "Ken has been instrumental in completing the restructuring of the sompany's financing arrangements and we are confident in his ability to lead NexCen as the company continues to execute the business restructuring plan initiated in May, which focuses on the franchising business."

The company, whose franchised brands include The Athlete's Foot and Shoebox New York, is to begin a search for a new chief financial officer.