Paul Buxbaum has been appointed chief ex­ecutive officer of Dallas-based Haggar Clothing Co. He succeeds Terry Lay, who is retiring after about 18 months with the firm.

Buxbaum is chairman, ceo and a principal of Buxbaum Group, an Agoura Hills, Calif.-based firm known for its liquidation, restructuring and turnaround activities.

Lay, whose tenure included Haggar’s departure from the women’s business to focus on its core men’s pant segment, said he had planned to retire during 2009. “I am confident that Paul and the team that we have built over the last year will be able to continue and grow recent successes,” he said. “I have had a great time at Haggar and I am satisfied that I have left the company in a better position than when I found it.”

Jon Ragsdale, senior vice president of marketing and merchandising at Haggar, said, “Our financial results are now in line with where they should be for a company of our size.”

Lay arrived at Haggar after retiring from VF Corp., where he was president of the Lee Jeans unit and head of the outdoor coalition that includes The North Face, JanSport and Eastpak.

Haggar was publicly held until being sold to private equity interests led by Infinity Associates LLC in 2005.