Tse, the fashion brand best known for its luxury cashmere, named Christina Peng-Gerschultz its new chief executive officer. Peng-Gerschultz succeeds Augustine Tse, Tse’s founder, chairman and ceo, who is retiring.

This story first appeared in the September 9, 2009 issue of WWD. Subscribe Today.

Peng-Gerschultz joined the company in 1989 as one of the label’s original designers, and was most recently president of the private label division of Tse parent Cashmere House Inc. She will be based at the company’s corporate office in Santa Ana, Calif., but spend much time in New York, where the company’s design and marketing offices are located.

As ceo of Tse, Peng-Gerschultz will be in charge of the entire business, from design to product development and production.

“Every company, whether big or small, is pressing the restart button, and we are looking at our business matrix and, more importantly, can no longer do business in the way we used to. We have to be that much more creative with discipline and restraint, so that in the long run, we will be much healthier and more successful,” said Peng-Gerschultz.

She added the company, with its focus on cashmere, is positioned to weather the challenges. She said the plan is to strengthen the positioning of the label globally, particularly in the Asian and European markets, even as those economies are still challenged. “We want to set the groundworks for the next chapter for Tse by approaching and strengthening these markets,” said Peng-Gerschultz.

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