He succeeds Cameron Toomey, who has returned to Australia after four years in the role.
Modibodi founder exits company
After almost a decade at the helm of period and incontinence underwear retailer Modibodi, founder Kristy Chong (pictured) is stepping down as CEO.
Chong made the decision after selling the business to Swedish health company Essity for AU$140 million in July, a premium of more than 24 times EBITDA, according to Business News Australia.
“I have strived to build a company that leads in sustainability, preventing millions of single-use disposables being thrown into landfill, and putting the plans in place to be a carbon-negative business,” Chong wrote on Linkedin.
“I have challenged the way women are marketed to, by using much more diverse people, not photoshopping or editing the body, and talking openly and positively about our bodies and bodily leaks.
“I have also played a small part in raising awareness around period equity [though] there is still much more to be done.”
Toys ‘R’ Us Asia CEO steps down
CEO of Toys ‘R’ Us Asia, Andre Javes, is to step down from his role this month to “pursue other interests”, after nine years of serving the business.
He will finish on August 24. Toys ‘R’ Us Asia’s former CEO Pieter Schats, who is currently chairman of the board, will serve as interim executive chairman until the company finds a new CEO.
Javes joined Toys ‘R’ Us Australia as MD in 2013 before relocating to Hong Kong in 2016 to take on the president and CEO role at Toys ‘R’ Us Asia. Under his leadership, the company has expanded its presence across several Asian countries and e-commerce sites.
“He is departing having strengthened business efficiency and established an executive team well-positioned to drive our growth into the future,” said Schats.
Prior to Toys ‘R’ Us Asia, he held several positions at Kmart Australia and Anaconda Group, according to his LinkedIn profile.
Meanwhile, Schats was the executive director of Fung Retailing Limited, responsible for managing and developing the group’s portfolio of children’s retail businesses across Asia, including Toys ‘R’ Us.
Headquartered in Hong Kong, the toys and games retailer operates more than 470 stores across Asia, including in Mainland China, Hong Kong, Japan, Japan, Malaysia, Singapore, and Thailand. The company also licenses more than 85 stores in the Philippines and Macau.
JD Sports names Regis Schultz as CEO
British sportswear retailer JD Sports Fashion has appointed Al-Futtaim’s president of retail, Regis Schultz, as its new CEO, after announcing selling footwear chain Footasylum and its associated subsidiaries to Aurelius Group for US$45.93 million.
Schultz will start his new role at JD Sports this September, succeeding Kath Smith, who will later resume her former role as a senior independent director on the board.
Schultz has held the president of retail role at the Dubai-based conglomerate Al-Futtaim Group since 2019. The division has helped brands such as Zara, Ikea, Hugo Boss, M&S and Lacoste establish and expand in the Middle East, Asia and North Africa.
“He has a strong track record of effecting transformational change through digitisation, driving multi-channel growth strategies and working across international markets,” JD Sports said in a statement.
Prior to Al-Futtaim, he also worked at France’s food and fashion retailer Monoprix as chairman and CEO, overseeing the company’s digital strategy, partnership with Amazon, and the first international partnership with Ocado.
“Regis brings exactly the characteristics we were looking for,” said Andrew Higginson, recently-appointed non-executive chair of JD Sports. “He is a retailer through and through with experience across all types of retail formats. He has also delivered transformational change through digitisation in a number of his roles.
“Finally, he has significant international experience which will be very important as he works with me and our senior team to execute our growth strategy.”
JD Sports was forced to sell Footasylum after breaching competition regulations in the UK. Having bought the business in 2019 for $ 109 million (£90 million), the company has recorded a loss of $63 million on the chain.
Tapestry, Inc COO steps down
Fashion firm Tapestry, Inc, which owns and operates Coach, Kate Spade and Stuart Weitzman, announced this week that its chief operations officer, Tom Glaser, will retire.
Glaser said he will remain at the company until October 1, and CFO Scott Roe will take on Glaser’s work as an expansion of his role.
“During his tenure, Tom has played an important role in the execution of our acceleration program, and our ability to successfully navigate the effects of the pandemic,” said Tapestry, Inc CEO Joanne Crevoiserat.
“He leaves us with a solid foundation in place and a strong team of tenured leaders… I’m very confident that Scott, together with our talented teams, will continue to optimise our robust operating platform as we move forward.”