True Religion names another interim CEO

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True Religion names another interim CEO

By Dan Berthiaume - 06/05/2019
True Religion’s search for a chief executive continues with the naming of its second interim CEO in less than one year.

The upscale denim brand has tapped Farla Efros, a consultant to the company, as interim CEO. She succeeds Chelsea Grayson, who is resigning “to pursue other opportunities.” True Religion tapped Grayson as interim CEO in November 2018 when John Ermatinger announced his retirement. She had previously served on the True Religion board, and before that served as CEO of American Apparel.

Efros, who is president of HRC Retail Advisory, a leading North American retail consulting firm, has worked closely with True Religion’s leadership team in recent months. She has more than 20 years of experience working with retailers and CPG companies, including almost 10 years at HRC Retail Advisory and its predecessor firms. Efros will continue as president at HRC while serving as True Religion’s Interim CEO.

True Religion filed for bankruptcy in July 2017, and exited less than four months later. In a statement announcing the appointment of Efros, the company said it is experiencing positive comps in its direct-to-consumer and online channels so far this year along with international growth.

“On behalf of True Religion, I thank Chelsea Grayson for her vision and significant contributions and wish her the very best as she moves on to new endeavors,” said chairman Eugene Davis said. “At the same time, we are pleased to have Farla stepping in as Interim CEO to enhance our strong team. Her proven operational and financial expertise are valuable assets and advantages that complement our iconic brand.”

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