25th Jun 2019 14:56
(Alliance News) - Bagir Group Ltd said Tuesday that Chief Executive Officer Eran Itzhak will leave the tailoring firm in mid-July due to unspecified "personal reasons", with former finance boss Micha Ronen replacing him at the helm.
Itzhak - CEO since 2015 - will leave Bagir on July 15.
"On behalf of the board and the company, I would like to thank Eran for his excellent leadership since he took the role, he successfully led the refinancing of the business, re-focused the company on three manufacturing territories and more recently has led the proposed strategic partnership with Shandong Ruyi," Bagir Chair Tessa Laws said. "We wish him well with his next venture."
Ronen formerly served in a number of senior roles at Bagir between 2004 and 2010, including as chief financial officer, deputy CEO and US head.
"I am delighted to welcome Micha back to the company," Laws added. "Micha is widely respected and well known throughout the business. He is an excellent appointment for the company, and we look forward to confirming his position as permanent in the near future."
Shares in Bagir were 1.8% higher at 1.12 pence in London on Tuesday.
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