Vince CEO resigns; interim chief named
Vince Holding Corp. is bringing back a familiar face as interim chief executive while it searches for a permanent one.
The luxury apparel retailer said that Jack Schwefel has resigned as CEO. The board has appointed David (“Dave”) Stefko, current director and former CFO of Vince, as interim chief, effective immediately, and has started the search to identify a permanent chief. This is Stefko’s second stint as interim leader of the company.
Schwefel joined Vince as CEO in March 2021, replacing is Stefko, who had served in the role in an interim basis since August 202. Prior to taking the helm of Vince, Schwefel was CEO of Cost Plus. Before that, he was the CEO of Dutch Fashion, CEO of Sur La Table and held senior management positions at Gap, Esprit, Kohl’s and Toys R Us.
“The board thanks Jack for his work in positioning Vince for its next chapter of growth and wishes him the best as he pursues other opportunities,” said Michael Mardy, chairman. “We are committed to finding a leader who has the skills and vision to continue to keep Vince on its trajectory to achieve its long-term objectives. Having previously served as Interim CEO during a time of prior transition and amidst the volatility of the COVID-19 pandemic, the board is confident in Dave’s ability to lead the organization during this period.”
Stefko has over 30 years of senior finance and executive management experience, and has been a member of the board since June 2023 after retiring as the company’s chief financial officer which he held from 2015 to 2023.
“I am proud to rejoin the leadership team during this transition as we continue to execute our transformation plan and progress our strategic initiatives focused on driving long-term profitable growth,” said Stefko.
The company said that Vince remains on track with its profitability objectives for the full year 2023 and expects to report fourth quarter and full year financial results by late April 2024.
Vince Holding Corp. is a global retail company that operates the Vince brand women’s and men’s ready to wear business. It operates 48 full-price retail stores, 15 outlet stores, an e-commerce site and a subscription service. It also distributes through premium wholesale channels globally.