Dive Brief:
- Switching up its top leadership again, Tailored Brands appointed John Tighe as CEO effective Aug. 5, according to a company press release Wednesday.
- Current CEO Peter Sachse will transition out of that position to become executive chairman of the board, per the release. Sachse became CEO in February of 2024 after serving as co-CEO alongside Bob Hull for three years.
- Tighe first joined the company in 2021 as chief customer officer. He became president at Tailored Brands in March 2022. Tighe worked at J.C. Penney for several years, including as its chief merchant.
Dive Insight:
For Tailored Brands (which oversees Men’s Wearhouse, Jos. A. Bank, Moores and K&G Fashion Superstore), elevating Tighe’s role demonstrates the company’s strength.
“The hallmark of a strong and resilient organization is a well-developed succession plan, and John’s promotion highlights the thoughtful, holistic talent strategy Tailored Brands has established,” Sachse said in a statement. “Over the past four years, John has been instrumental in our Company’s ability to anticipate market shifts and evolve with our customers as he architected nuanced merchandising, planning, marketing, and value-driven pricing strategies. There is no doubt he is the right successor at the right time, and I’m excited to see Tailored Brands continue to thrive under his leadership.”
The latest CEO appointment at Tailored Brands follows several years of changes to the top spot.
A few months after exiting bankruptcy in 2020, Tailored Brands announced CEO and President Dinesh Lathi would step down in March of 2021. At that time, board members Sachse and Hull became co-CEOs while the company searched for a permanent successor.
Both executives remained co-CEOs until 2024, however, with Sachse then taking on the position independently. Hull then became chairman of the board, which Sachse is now set to take over. Tailored Brands in March announced that Hull would exit the board entirely.
The apparel company also tapped a new chief customer officer in February of this year, naming Best Buy and Target veteran Whit Alexander to the position.
Tighe’s promotion comes at a time when Tailored Brands is hyper-focused on growth across its brand portfolio.
In March, its Men’s Wearhouse banner added a gift list registry service through a partnership with MyRegistry.com. The functionality provides a gift list option to customers around major life events, such as graduations and weddings. Additionally, Men’s Wearhouse in April expanded its “Made in USA” program with a new collection called “American Bespoke.” The line is produced in Tailored Brands’ New Bedford, Massachusetts, factory.