Sequential Brands Group Inc. mentioned Monday its board of administrators is conducting a broad evaluation of strategic alternate options targeted on maximizing shareholder worth. That may embrace the divestiture of a number of current manufacturers, the acquisition of a number of new manufacturers, a inventory buyback program, and different initiatives.
The board has employed Stifel to function its unique monetary adviser to assist in the method.
In addition, the corporate mentioned Karen Murray has stepped down as director and chief govt officer of Sequential. She will proceed to be a senior adviser and help the corporate on strategic alternatives. The board has begun a seek for a brand new ceo. Chad Wagenheim, govt vice chairman of strategic growth and operations, has been named president and can help the corporate throughout this transition interval.
Murray turned ceo of Sequential in March 2017, having beforehand been president of VF Sportswear, the place she oversaw the $1.2 billion world model Nautica, in addition to Kipling.
Sequential’s manufacturers embrace Joe’s, Ellen Tracy, Jessica Simpson, And1, Gaiam, William Rast, Heelys, Caribbean Joe and Avia. Last June, Sequential accomplished the sale of Martha Stewart Living Omnimedia for $166 million in money consideration at closing to Marquee Brands LLC.
Regarding the evaluation of strategic