Tom Tailor announces new CEO

Germany
Published:  22 October, 2019

The German casual wear and accessories Group has appointed Gernot Lenz as its new Chief Executive.

Effective November 1, 2019, Gernot Lenz is to succeed Heiko Schäfer as CEO of Tom Tailor Holding. Most recently, Lenz was CEO of the s.Oliver Group. Before that, he held the positions of COO at Tommy Hilfiger Global and PVH Europe in Amsterdam. Prior to spending a total of ten years with PVH Europe, Dr Lenz was a strategy consultant at Bain & Company.

The current CEO, Heiko Schäfer, is resigning from the Management Board at his own request. He has been a member of the Management Board since December 2015 (initially as COO) and was appointed CEO in September 2016. During his time at the Group, the Tom Tailor brand lifted its EBITDA margin from 4.9% in 2016 to 10.4% in 2018, while the gross margin rose 6% to 56.6%.

Focussed on casual wear in the medium price segment, the Group’s product portfolio is complemented by an extensive range of fashion accessories, including leather.