All Saints board president quits
The romance is over. Although last year board chairman and All Saints founder Kevin Stanford set up a rescue of All Saints by pulling in Lion Capital and Goode Partners, the agreement he struck with the company’s investors looks to have burned out. According to Drapers, Kevin Stanford had already been pushed out of his role as chairman at the beginning of the year and left the British company for good two weeks ago.
On board since the launch of the British brand in 1994, the founder is reported to own another 15% stake in the brand, for which Lion Capital is currently negotiating a buyout, according to Sky News. The investment funds now own more than 75% of All Saints shares.
Kevin Stanford leaves the brand just following the arrival of new CEO William Kim in mid-September to take over from Stephen Craig, who left a year earlier. For now, those involved are not commenting on the status of the brand and no replacement for Kevin Stanford has been mentioned.
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