The executive team at Phillips-Van Heusen’s furnishings division will be smaller by the end of the year, thanks to a number of high-profile departures.
Both Lee Terrill, president of PVH neckwear, and Mervyn Mandelbaum, founder of Superba, which PVH acquired in 2007, plan to retire, according to an internal memo acquired by WWD.
Terrill joined PVH in 1972 and spent most of his career in the company’s dress shirt division and was named president of the branded dress shirt group in 1998. In 2007, he moved to the newly formed neckwear group, where he served as its president. Terrill will retire from the company at the end PVH’s fiscal year, or Feb, 7. Marc Schneider, president of the dress furnishings division, will assume Terrill’s responsibilities on an interim basis.
Reached on Monday, Schneider confirmed the changes but declined to comment further.
Mervyn Mandelbaum, who founded Superba/Insignia neckwear in 1978 and grew it into the largest tie manufacturer in the country, will step down as chief executive of the PVH neckwear group, which was formed after PVH acquired Superba, at the end of fiscal year 2010.
The memo also detailed the promotion of Mitch Lechner to president of the dress shirt group, effective Oct. 1. He previously served as the president of the division’s designer shirt business, which includes the Calvin Klein and DKNY brands. In his new position, Lechner will now oversee the division’s larger volume businesses — including the Van Heusen and Arrow brands — which had previously been headed by Steve Correia.
Correia, who will stay with the company, is relocating to Los Angeles, where he will serve as the executive vice president of sales and marketing with responsibility for company’s midtier dress shirt business. Correia has been with the company since 1990.
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