In a widely expected move, Dinesh Lathi has officially been named to the top post of Tailored Brands, Inc.
Lathi, executive chairman of the men’s wear retailer, who has been acting in the role of chief executive officer — without the title — since the retirement of Doug Ewert last September, was named president and ceo Thursday afternoon. Theo Killion, a one-time ceo of Zale, will become chairman of the board of directors. Both appointments are effective immediately.
“Dinesh has demonstrated a deep commitment to building and leading a customer-obsessed company that empowers our talented employees with technology, data and the creative resources needed to exceed customer expectations and position Tailored Brands for long-term sustainable growth,” said Killion.
Earlier this month, Lathi was highly critical of the company during its fourth-quarter and year-end earnings call, saying the retailer has underinvested in its business and failed to keep pace with a rapidly changing customer.
He was especially hard on former management, saying the company needs to change — and quickly — to offer more personalized products and services, a better omnichannel experience and fewer promotions in favor of more “brand stories.”
He reiterated that in a statement on Thursday, saying: “After spending extensive time with our employees in the communities we serve across all of our operations, and getting a better understanding of how we can rapidly evolve our business to meet our customers’ needs and wants, I am excited to assume the role of president and ceo. Our goal is to be the trusted partner to our customers who want to look and feel their best for moments that matter. To deliver on this promise, we are aligned around three core growth strategies: personalized products and services, seamless and inspiring experiences in and across every channel, and brands that stand for more than just price. I look forward to sharing an update on our progress during our first-quarter results conference call in June.”
Lathi has been chairman of Tailored Brands since March 2017 and executive chairman since August 2018. He has been been a member of the board since March 2016.
Killion has served as lead independent director since August 2018 and joined the company’s board in June 2017. He was the ceo of Zale Corp. from 2010 to 2014 and has over 40 years of experience in operating roles at companies including Tommy Hilfiger, Limited Brands, The Home Shopping Network and Macy’s.
Lathi was the ceo of One Kings Lane, Inc. from April 2014 until June 2016. Prior to that, he spent seven years in various senior executive roles at eBay, Inc. and eight years in investment banking and private equity.