TowerBrook Capital’s True Religion Apparel Names New CEO

True Religion Apparel, a portfolio company of TowerBrook Capital Partners, said Wednesday that it has named David Conn as CEO, effective immediately. Prior to joining True Religion, Conn served as president of VF Retail Licensed Brands. Also, Lynne Koplin, who acted as interim CEO before Conn’s appointment, is now CMO while Eric Bauer has been hired as the company’s CFO and COO. True Religion Apparel is a denim brand.

PRESS RELEASE

VERNON, Calif. – July 31, 2013 – True Religion Apparel, Inc. today announced the appointment of David Conn as Chief Executive Officer and named a new leadership team that, together with the Company’s new owner, TowerBrook Capital Partners L.P. (“TowerBrook”), will guide the Company into its next phase of growth and build on the success of the True Religion brand. These changes are effective immediately.
Mr. Conn joins from VF Corporation (NYSE: VFC) with deep leadership experience and vast knowledge in brand management and marketing in the apparel and footwear industries. Prior to his time as President of VF Retail Licensed Brands, Mr. Conn served as Executive Vice President of the Iconix Brand Group, where he was a senior leader and played a key role in growing that business.
David Conn stated, “I’ve admired True Religion for a long time and I’m thrilled to join such an exceptional team. I feel fortunate to have Lynne, Eric and TowerBrook as partners as we begin this new chapter for the company. I look forward to working with them and with the talented employees of True Religion to make a great company even stronger.”
Lynne Koplin, who served as interim Chief Executive Officer, has transitioned to a new role as Chief Merchandising Officer, and Eric Bauer has been named as Chief Financial Officer and Chief Operating Officer.
Ms. Koplin has been a member of the True Religion management team since 2010. In addition to her role as interim Chief Executive Officer, she has served as Chief Operating Officer and President and has significant experience in product and store design, as well as retail merchandising. Mr. Bauer is a seasoned finance and retail operations executive. He previously served as Chief Operating Officer at The Children’s Place Retail Stores and as Executive Vice President, Brand Operations and Chief Operating Officer of The Gap North America. As part of this transition, Pete Collins, who has served as the Company’s Chief Financial Officer for six years, will retire from True Religion in August, 2013.
Andrew Rolfe, Chairman of the Board of True Religion and Managing Director of TowerBrook, commented, “I am pleased to welcome David as the new Chief Executive Officer of True Religion. I am excited by the expertise that he, together with Lynne and Eric, bring to the company. The team we’ve brought together, led by David’s strong leadership and vision, will enable True Religion to accelerate its growth and realize its potential, both in the U.S. and internationally.”
About True Religion Apparel, Inc.
True Religion Apparel, Inc. is a growing, design-based denim and denim-related sportswear brand. The Company designs, manufactures and distributes True Religion Apparel products, including its premium True Religion Brand jeans, sportswear and licensed accessories. True Religion products may be found in the Company’s branded retail and outlet stores as well as contemporary department stores and boutiques in 50 countries on six continents. As of June 30, 2013, the Company operated 130 stores in the U.S. and over 33 international stores. For more information, please visit www.truereligionbrandjeans.com.
About TowerBrook Capital Partners
TowerBrook Capital Partners L.P. is an investment management firm with in excess of US$8 billion under management. The firm is based in London and New York and focuses on making investments in European and North American companies. TowerBrook primarily pursues control-oriented investments in large and middle market companies, partnering with highly capable management teams and seeking situations characterized by complexity.