Wolford COO Thorndike to exit at the end of July
Recovering Austrian intimates specialist Wolford has announced the exit of its chief operating officer Andrew Thorndike.
The company said Thorndike (who’s a member of the management board) and its supervisory board have “mutually agreed to terminate [his] board mandate effective 31 July 2022”. No reason was given for the move.
The supervisory board has now begun the process of appointing a new member of the management board. And until such a person is appointed, management board member Silvia Azzali will run the business as sole director.
Wolford said it “expressively thanks Andrew Thorndike for his commitment to the company”.
Thorndike has been COO of the business since October 2019. That meant he stepped into the role only a few months before the biggest crisis in retail broke in early 2020 as stores closed and consumers globally were in lockdown.
Wolford said he “drove and largely completed the restructuring of the company. In 2021, the company achieved its best EBITDA in 10 years”.
The company remains loss-making at a headline level, but it’s clearly on the recovery trail after several bruising year both before and during the pandemic.
Copyright © 2022 FashionNetwork.com All rights reserved.