Vince Holding Corp. recently made an announcement regarding the departure of their chief financial officer, Amy Levy, who has decided to pursue other opportunities. Levy will be staying with the company until June 30, after which Michael Hand will take on the role of interim chief financial officer starting from July 1. Hand will be working closely with Levy to ensure a smooth transition as the company searches for a permanent replacement.
Michael Hand brings a wealth of experience to this position, with over 40 years of expertise in financial, operational, and general business affairs. He has worked with various consumer goods companies, including retail, wholesale, and e-commerce businesses. Hand has also held key financial and accounting positions at renowned companies such as Marc Jacobs, Cole Haan, Coach, Movado, Sotheby’s, and PepsiCo. Given his extensive knowledge and background in the industry, Hand is an invaluable asset to the Vince team during this time of transition.
In addition to the appointment of Michael Hand, Vince Holding Corp. has also added David Stefko to their board of directors. Stefko previously served as the company’s chief financial officer and will continue to provide his expertise and guidance to Vince as an advisor throughout this transition period. Jack Schwefel, the CEO of Vince, expressed his excitement about Hand’s appointment and the ongoing support from Stefko. Schwefel also extended his gratitude to Amy Levy for her leadership and contributions to the company, wishing her the best in her future endeavors.
According to the latest trading update, Vince Holdings reported a decline in sales for the first quarter. Sales dropped by 18.3%, totaling $64.1 million. This decline can be attributed to the discontinuation of the Rebecca Taylor business and a slight decrease in the Vince brand. Despite these challenges, the company remains positive about its future trajectory with the strategic appointments of Hand and Stefko.
Useful links:
1. Vince Holding Corp. official website
2. Vince Holding Corp. executive team information
