Tailored Brands Names John Tighe as CEO, Peter Sachse to Transition to Executive Chairman

Tailored Brands has announced that John Tighe, long-time men's merchant, will become CEO on Aug. 5, succeeding Peter Sachse, who will transition to executive chairman. Tighe joined the retailer in 2021 and has served as president of the parent company to Men's Wearhouse and Jos. A. Bank Clothiers. Sachse had stepped in to rescue the menswear retailer in 2021 after it emerged from bankruptcy.

Tailored Brands, the Houston-based specialty retailer of men's wear, has announced that John Tighe will become the company's new CEO, effective August 5. Tighe will succeed Peter Sachse, who will transition to the role of executive chairman. Tighe joined the retailer in 2021 and has served as president of the parent company to Men's Wearhouse and Jos. A. Bank Clothiers [1].

Sachse, who had spent 34 years at Macy's, took on the role of CEO in 2021 to rescue the menswear retailer after it emerged from bankruptcy. He initially shared the CEO position with Bob Hull, another board member with extensive experience at Lowe's Cos. They served as interim co-CEOs in March 2021 and were named permanent co-CEOs in March 2022. Sachse was named sole CEO in February 2024 [1].

Tighe's promotion highlights the thoughtful talent strategy established by Tailored Brands. He has been instrumental in the company's ability to anticipate market shifts and evolve with its customers. Sachse commended Tighe's role in architecting nuanced merchandising, planning, marketing, and value-driven pricing strategies [1].

In his new role, Tighe aims to continue delivering on the company's purpose and value proposition. He expressed gratitude for the support and confidence of the board, Sachse, and the entire leadership team. Tighe also thanked the over 14,000 team members who put customers at the center of every decision [1].

Tailored Brands operates more than 1,000 stores under the Men's Wearhouse, Jos. A. Bank, Moores, and K&G Fashion Superstore banners. The company reported sales of $2.6 billion in fiscal 2023 with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $406 million [1].

References:
[1] https://wwd.com/menswear-news/mens-retail-business/john-tighe-ceo-tailored-brands-peter-sachse-1237927472/
[2] https://au.fashionnetwork.com/news/Tailored-brands-names-new-ceo,1741847.html