Tailored Brands, the parent of retail banners Men’s Wearhouse and Jos. A. Bank Clothiers, is searching for a new CEO after announcing the departure of Dinesh Lathi, who will step down from the role effective March 26.
Lathi will be replaced on an interim basis by board members Bob Hull and Peter Sachse, who will serve as co-CEOs until a permanent successor is found.
The company characterized this moment as “the right time to re-evaluate the skills and experiences needed in the CEO role,” but did not elaborate.
“We’re seeing a significant amount of C-suite turnover in retail, particularly at more challenged companies, which are contemplating significant strategic changes,” said David Silverman, a senior director and retail analyst at rating agency Fitch.
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