NEW YORK, Feb. 23, 2016 /PRNewswire/ --
- Mr. Haugh will become CEO on April 1, 2016
- Peter Cuneo transitioning to Executive Chairman on April 1, 2016
The Board of Directors of Iconix Brand Group, Inc. (Nasdaq: ICON) ("Iconix" or the "Company") today announced that John N. Haugh has been appointed President and a member of the Board of Directors effective February 23, 2016. Mr. Haugh will become Chief Executive Officer of Iconix on April 1, 2016. At that time, Interim CEO Peter Cuneo will transition to Executive Chairman of the Iconix Board.
Mr. Haugh is a proven executive with more than 30 years of experience leading premier global brands and retail businesses at highly respected companies, including Luxottica S.p.A., Build-A-Bear Workshop, Inc. and Mars, Inc. In his role as President of Sun, Luxury and Retail Services for Luxottica Retail, N.A., he led more than 14,000 Sunglass Hut associates; managed the Luxottica and Macy's, Inc. license operations business; directed the luxury optical business; and managed real estate, design and construction for Luxottica Retail, N.A.
"Our Board has identified in John a talented and experienced executive who can focus Iconix on accelerating organic growth with our portfolio of brands and on exploring opportunities for new acquisitions," said Interim CEO of Iconix, Peter Cuneo. "During the past six months, I have worked closely with our management team to diligently review our operations, to focus on refinancing our maturing 2016 convertible notes and to work with the SEC to conclude its comment letter process. We are well positioned for the next stage of growth under John's leadership, and when I transition to Executive Chairman on April 1, my focus will shift to areas of need where I can best help the company."
Said Mr. Haugh, "It is an honor to take on the leadership of Iconix Brand Group. The company occupies a position of prominence in the industry and holds a tremendous portfolio of iconic brands that account for approximately $13 billion of retail sales globally. I look forward to leading a talented management team committed to our next stage of growth as we work with our retail partners to help them maximize the strength that the Iconix brands can bring to their businesses."
About John Haugh
Mr. Haugh's leadership experience across global brands and retailers spans more than 30 years. Prior to joining Luxottica in 2011, Mr. Haugh was President of Build-A-Bear Workshop, Inc. Before joining Build-A-Bear, he served as President of the Mars Retail Group for Mars, Inc. Mr. Haugh previously held senior marketing, strategy and sales leadership roles with Payless ShoeSource, Inc., Universal Studios, Inc. and General Mills, Inc.
Mr. Haugh is a member of the board of directors of Aeropostale, Inc. and serves on the Board of Trustees for the International Council of Shopping Centers. He obtained a Bachelor of Arts degree from the University of Wisconsin-Madison and an MBA from the International Institute of Management Development (IMD) in Lausanne, Switzerland.
In connection with Mr. Haugh's appointment, the Iconix Brand Group Board of Directors was assisted by leading executive search firm, Herbert Mines Associates.
About Iconix Brand Group, Inc.
Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of consumer brands including: CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE BOXER (R), RAMPAGE (R), MUDD (R), MOSSIMO (R), LONDON FOG (R), OCEAN PACIFIC (R), DANSKIN (R), ROCAWEAR (R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R), WAVERLY (R), ZOO YORK (R), SHARPER IMAGE (R), UMBRO (R), LEE COOPER (R), ECKO UNLTD. (R), MARC ECKO (R) and STRAWBERRY SHORTCAKE (R). In addition, Iconix owns interests in the ARTFUL DODGER (R), MATERIAL GIRL (R), PEANUTS (R), ED HARDY (R), TRUTH OR DARE (R), MODERN AMUSEMENT (R), BUFFALO (R), NICK GRAHAM (R) and PONY (R) brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and worldwide. Through its in-house business development, merchandising, advertising and public relations departments, Iconix manages its brands to drive greater consumer awareness and equity.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. The statements that are not historical facts contained in this press release are forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors, all of which are difficult or impossible to predict and many of which are beyond the control of the Company, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, uncertainty regarding the results of the Company's acquisition of additional licenses, continued market acceptance of current products and the ability to successfully develop and market new products particularly in light of rapidly changing fashion trends, the impact of supply and manufacturing constraints or difficulties relating to the Company's licensees' dependence on foreign manufacturers and suppliers, uncertainties relating to customer plans and commitments, the ability of licensees to successfully market and sell branded products, competition, uncertainties relating to economic conditions in the markets in which the Company operates, the ability to hire and retain key personnel, the ability to obtain capital if required, the risks of litigation and regulatory proceedings, the risks of uncertainty of trademark protection, the uncertainty of marketing and licensing acquired trademarks and other risks detailed in the Company's SEC filings. The words "believe", "anticipate", "estimate", "expect", "confident", "continue", "will", "project", "provide" "guidance" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date the statement was made. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Iconix Brand Group
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SOURCE Iconix Brand Group, Inc.