Jamie Salter has resigned as chief executive officer of Hilco Consumer Capital and Eric Kaup, general counsel at parent company Hilco Trading LLC, has been named interim ceo of the private equity firm.
This story first appeared in the January 25, 2010 issue of WWD. Subscribe Today.
Kaup will continue as general counsel and executive vice president of Chicago-based Hilco Trading.
Salter, who was said to have resigned over financial issues, cofounded Toronto-based Hilco Consumer Capital in 2006 with Hilco Trading. The firm invests in consumer product brands, and its investments include Polaroid, Sharper Image, Bombay Co., Ellen Tracy, Linens ‘N’ Things, Tommy Armour Golf and Halston. The company is also the exclusive adviser on licensing matters to the House of Marley.
Salter will retain his 33.3 percent stake in Hilco Consumer Capital. The rest is owned by Hilco Trading, whose investors are Cerberus and Goldman Sachs. In addition, Salter will continue to advise on the firm’s portfolio of brands and serve on the boards of several brand companies, including Halston, Ellen Tracy and House of Marley. He will also manage the day-to-day operations of House of Marley.
Salter, who declined to discuss the reasons for his exit, said he plans to start another private equity fund.