Tommy Bahama CEO says it's time to retire

There will be a change at the top of lifestyle apparel retailer Tommy Bahama.



The company announced that Terry R. Pillow will retire as CEO of Tommy Bahama Group on January 30, 2016, the end of the company's fiscal year. He will be succeeded by Douglas B. Wood, Tommy Bahama's current president and COO.



“Terry joined Tommy Bahama in 2008 at a critical juncture for the business,” said Thomas C. Chubb III, chairman and CEO of Oxford Industries, which owns Tommy Bahama. “The founders were retiring and we were entering an unprecedented economic downturn. Terry has done a tremendous job propelling the business forward and enhancing the depth and breadth of the successful Tommy Bahama lifestyle brand that we all recognize today."



Wood joined Tommy Bahama in 2001, two years prior to Oxford's acquisition of the brand.



“For the past 14 years, Doug has been responsible for all aspects of Tommy Bahama's financial and operating functions,” Chubb said. “With his leadership, Tommy Bahama has transformed from a $200 million wholesale-focused company to a $600+ million lifestyle brand driven by its direct to consumer business.”