CEO of Vernon Based True Religion to Step Down
By City News Service
True Religion Apparel Inc. founder Jeff Lubell is stepping down as chairman, CEO, creative director and employee of the jeans company he founded a decade ago, the company announced last week.
Lubell will serve as chairman emeritus and a creative consultant to the company for a two-year period.
The board of directors appointed Lynne Koplin, president of True Religion, as interim CEO. She has been a member of the management team since 2010.
“I founded True Religion in 2002, and I am grateful and deeply honored to have had the opportunity to lead the company for the last 10 years,” Lubell said in a prepared statement. “I am very proud of all that the company achieved during this decade of both achievements and challenges. Now is the right time to facilitate the next phase of the company’s development and growth, and for me to seek new creative endeavors.”
Last October True Religion announced that its board had formed a special committee of non-management directors and hired financial and legal advisers to evaluate “possible strategic alternatives available to the company with the objective of maximizing shareholder value.”
The company based in Vernon designs, manufactures and markets its True Religion Brand Jeans and other apparel sold in the company’s branded retail and outlet stores, as well as department stores and boutiques in 50 countries on six continents.
As of Dec. 31, the company owned and operated 122 retail stores in the United States and 30 international stores.Print This Post
March 28, 2013 Copyright © 2012 Eastern Group Publications, Inc.