GROTE OUT AT MEXX: Thomas Grote has resigned as chief executive officer of Mexx. No word on where he is headed, but the resignation was due to his decision to leave the company, sources said.
Grote, the former president of the Esprit brand, joined Mexx in 2009, and led its turnaround strategy. In November 2011, private equity firm The Gores Group acquired an 81.75 percent majority stake in Mexx International for about $85 million from Liz Claiborne Inc. Claiborne retains an 18.25 percent stake in the business.
Lewis “Lee” Bird 3rd, a managing director who leads Gores’ operational efforts in the consumer practice group, is also executive chairman of Mexx. On Wednesday, Bird said he remains executive chairman of Mexx and will “be more involved in the daily activities at Mexx until a new chief executive is appointed.”
This story first appeared in the May 3, 2012 issue of WWD. Subscribe Today.