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| Three top execs of Hartmarx to quit on S Kumars takeover |
| Press Trust of India / Chicago Jun 30, 2009, 12:32 IST |
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Top three executives of Hartmarx will leave the company, as city-based suit maker, which has been acquired by Indian textile firm S Kumars Nationwide Ltd and British firm Emerisque, readies to be run by new owners.
The 125-year-old suit maker announced that Senior Vice President and Chief Financial Officer Glenn Morgan, Group President of its women's wear division Susan Falk and Group President of luxury Paulette Garafalo would leave the company effective June 30.
In a statement, Hartmarx CEO Homi Patel said Morgan has been his partner "in good times and bad".
"Morgan's low-keyed, yet effective demeanour helped us navigate through some very difficult situations. He was also instrumental in making several acquisitions that significantly changed the nature of the company," Patel said.
Falk was instrumental in "upgrading several of our women's wear lines and has participated in helping grow our very successful women's jeans business," he said.
Patel praised Garafalo for converting Hickey Freeman "from a tailored clothing label into a luxury brand with a retail, web and international footprint".
Last week, a US court gave its approval for bankrupt Hartmarx's sale to British investment firm Emerisque and its partner SKNL's US subsidiary SKNL North America BV for about $120 million.
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