True Religion Gets New ManagementWednesday, July 31, 2013
Premium denim company True Religion Apparel Inc. announced Wednesday that it has named a leadership team.
David Conn, a former executive at apparel company VF Corp. in Greensboro, N.C., was named chief executive. He replaces Lynne Koplin, who served as interim chief executive after Jeff Lubell, the Vernon company’s founder and self-described “fashion guru,” stepped down earlier this year.
Koplin, who served as president and chief operating officer of True Religion before taking the reins during the company’s transition to new ownership, was named chief merchandising officer.
Eric Bauer, former chief operating officer for specialty retailer Children’s Place in Secausus, N.J., was named to a dual role as chief financial and operations officer. Pete Collins, who served as chief financial officer for True Religion for six years, will retire in August.
The changes in executive leadership at True Religion came the day after the company announced it had closed the $824 million acquisition to take the company private after 10 years on Nasdaq.
TowerBrook Capital Partners L.P. with headquarters in New York and London agreed to buy True Religion in May for $32 a share, a 9 percent premium on the stock’s closing price at the time.
True Religion shares stopped trading on the Nasdaq at the close of trading yesterday.