Peter Williams has stepped down as chairman of Jaeger.
The retail veteran joined Jaeger, which has been controlled by private equity company Better Capital since 2012, in November 2014.
The business is about a year and a half into a five-year turnaround strategy, which aims to rebuild its appeal through initiatives such as reintroducing quality fabrics, investing online and revamping stores.
Williams told Drapers: “Jaeger has a fantastic name and heritage so there is a real place for it in the fashion industry, but I found there’s still a lot to do in the business and it needs somebody with more time than I can devote to it.
“Better Capital and I had a sensible conversation about it and that’s why I’m stepping down.”
A former chief executive of Selfridges and director of Asos.com, Williams is currently chairman of Manchester-based etailer Boohoo.com, homeware retailer Brissi and German eyewear etailer Mister Spex. He is also non-executive director at property firm Rightmove, betting organisation Sportech and cinema chain Cineworld.
Jaeger chief executive Colin Henry said: “I would like to thank Peter for his advice and oversight during his time at Jaeger. We wish him the very best in his other board roles.
“My team will work closely with the other members of the board during this important and active stage in Jaeger’s turnaround as we continue to drive continued momentum in our five-year turnaround plan, which is already delivering good traction.”
Williams’ predecessor as Jaeger chairman, former Mosaic and Aurora director Stewart Binnie, had a short tenure of just nine months. He exited the business in March 2013.