Harold Tillman has formally left premium retailer Jaeger, with Stewart Binnie taking on the role of executive chairman of the business.
Tillman, also outgoing chairman of the British Fashion Council, is thought to have stepped down earlier this month. It is not known whether he still holds a minority stake in the company, of which he once owned 70%.
Tillman was unavailable for comment as Drapers went to press.
Binnie’s appointment follows four months working at Jaeger in a strategic role to develop its turnaround plans. He first joined in June, a month after its sale to private equity firm Better Capital.
As part of the £19.5m deal for 90% of the retailer, Tillman’s stake dropped from 70% to 10%.
Binnie told Drapers’ sister title, Retail Week: “We have managed to put all the fires out and have some clarity about where the business is going.”
Jaeger has also made a series of other hires. Shailina Parti has rejoined as brand director, returning to the company after a spell as buying and design director at Monsoon Accessorize. Former Daks managing director David Hewitt has joined as a consultant to head the international arm. An as yet unnamed ecommerce director is set to join the business soon.
With the new team in place, Binnie is eyeing international expansion and is in talks to return to Japan with standalone stores as early as next autumn. He is also looking for franchise or licensing partners and department stores in Eastern Europe, the Middle East, China, Korea and North America.
Jaeger also plans to increase its use of British-made product across men’s suits from 75% to 90%, which will increase Jaeger’s top price points.
Stepping out: Tillman left earlier this month