BERLIN — Escada has a new chief executive officer, Bruno Sälzer, and an influential new minority shareholder, the Herz business family. This confirms a WWD report Monday that changes at the fashion house were imminent.

After weeks of speculation accompanied by tumultuous stock performance and the company’s second profit warning this year, Escada announced late Tuesday that ex-Hugo Boss ceo Sälzer will replace Jean-Marc Loubier, effective July 1.

Sälzer has also been named a member of the board of management.