Tailored Brands (Houston) announced that Dinesh Lathi will step down from his role as President and CEO, effective March 26, according to a press release. Board members Bob Hull and Peter Sachse will act as interim co-CEOs while the board searches for a permanent successor.
Lathi said in the release: “It has been my pleasure to work as part of the talented and dedicated Tailored Brands team, and I want to thank all of my colleagues for their support and many contributions over the past five years.”
In December 2020, Tailored Brands successfully completed its chapter 11 restructuring, and earlier this month, the company announced $75 million in new financing. The Board and Lathi mutually agreed that this is the right time to re-evaluate the skills and experiences needed in the CEO role as the company prepares for its next chapter.