Swapping Chairs

Apparel maker Tommy Hilfiger Corp. (Hong Kong) has announced that current honorary chairman Tommy Hilfiger will become chairman of his namesake company.

Effective Oct. 28, Hilfiger will replace Silas Chou, who told the board he wanted to devote time to “other business interests.” Chou has been chairman of the company since its founding in 1989.

In addition, the company said it plans to launch a search for “an experienced individual with the title of president” to take over the role of chief executive after current ceo Joel Horowitz's contract expires in March 2004. Horowitz is expected to continue as a director at that time.

Horowitz has been ceo since 1994, and a senior executive since he joined the firm at its inception. Both Chou and Horowitz are among the company's founding investors.

In July, Tommy Hilfiger said its co-chairman Lawrence Stroll resigned to pursue other interests. Stroll had been co-chairman since 1998 and chief executive of the company's Hong Kong Ltd. subsidiary for the previous five years.

Tommy Hilfiger offers its line of men's, women's and children's clothing, fragrances, bedding, home furnishings and cosmetics in department and specialty stores, as well as some 160 Tommy Hilfiger shops and outlets.