Trinity CEO Richard Cohen departs
Trinity Group, the menswear subsidiary of the Hong Kong giant Li & Fung, has announced chief executive officer Richard Cohen has left after two years in the job.
Via a press release on Friday, Trinity Group said that Cohen's departure was reached by mutual agreement and the menswear veteran will cease CEO duties, June 4.
Cohen took the Trinity role in 2014, after a stint as senior vice president of business development at Saks Fifth Avenue. Before that, he spent 16 years as President and CEO of Zegna North America. In the 80’s, Cohen presided over the sales department at Burberry in the United States.
Cohen will be replaced by Jeremy Paul Egerton Hobbins, who comes from a director role already within Fung Group, where he oversee various companies.
Prior to joining the Fung Group in 1999, Hobbins held a number of management positions in a variety of companies including chief executive of Inchcape Marketing Services, chief executive of Inchcape Buying Services and president of both Campbell Soup Company and Ault Foods.
Cohen's departure follows Trinity revenue woes. The company posted a net loss of 89 million Hong Kong dollars ($11.45 million) for the year ended December 31, while sales dropped 27% to $244.51 million. Both profits and revenue took a dive in 2014 and 2013.
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