Home / Knowledge / News / Apparel/Garments / Henry Stupp to be CEO of Cherokee Inc
Henry Stupp to be CEO of Cherokee Inc
30
Aug '10
Robert Margolis, Executive Chairman and founder of Cherokee Inc., a leading licensor and global brand management company, announced that Cherokee has entered into an employment agreement with Henry Stupp to be its Chief Executive Officer and a member of its Board of Directors.

Mr. Margolis stated, "Henry's agreement is perfectly aligned with the long-term interests of the Company's shareholders and his commitment to the Company includes a purchase of $2,500,000 of newly issued common stock in Cherokee Inc., including $1,500,000 purchased on August 26th." Concurrent with this announcement, the Compensation Committee has granted to Mr. Stupp an option to purchase an additional 300,000 shares of common stock, the terms of which are described below.

Margolis continued, "Henry has presented us with new and exciting ideas that will further expand upon the Company's successful global network. On behalf of our shareholders, our Board of Directors and our executive team, we look forward to great success under Henry's leadership."

Henry Stupp, CEO of Cherokee Inc., said, "This is the opportunity of a lifetime! I am proud to join the Company that pioneered the 'Retail-Direct' licensing model, first in America through a successful collaboration with Target Corporation, and subsequently with premiere retailers in over thirty countries worldwide. Cherokee, established in 1973, is a top-selling 'family-lifestyle' brand that represents the authentic American lifestyle to a global audience. The financial strength of the Company provides opportunities to grow our portfolio of brands and pursue prudent acquisitions."

Stupp continued, "I especially look forward to collaborating with our retail partners and working with the outstanding management team at Cherokee, including Chief Operating Officer Howard Siegel, and the Company's three regional Presidents."

Born in Montreal, Canada, Mr. Stupp relocated to southern California in 1995. He is one of the original founders of Novel Teez Designs (later known as NTD Apparel), a multi-divisional fashion apparel supplier and market leader for many licensed and branded programs. During his 20+ year tenure with NTD, Mr. Stupp successfully identified, negotiated and introduced over 200 well-known brands and licenses, building a strong reputation as an industry leader.

Cherokee's Compensation Committee approved the grant of stock options to Mr. Stupp as inducement grants outside of Cherokee's 2006 Equity Incentive Plan ("Plan"). This grant of stock options was entered into as an inducement material for Mr. Stupp to enter into employment with Cherokee.

While the stock option grant was made outside of the Plan, the grant is consistent with applicable terms of the Plan, which is available with the Company's SEC filings. The stock option has an exercise price of $18.30 per share, which is equal to the closing price of Cherokee's common stock on the date of approval of the option grant by Cherokee's Compensation Committee.

The option has a term of six (6) years. The option vests in five (5) equal annual installments beginning on January 31, 2012 contingent upon Mr. Stupp's continued service to the Company. Additionally, vesting of half of the shares subject to the option is contingent upon Mr. Stupp's purchase of an additional $1,000,000 worth or shares of common stock on or before January 31, 2011.

Cherokee Inc


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Bangladesh garment exports rise 7.46% in July-Nov '17

Apparel/Garments | On 11th Dec 2017

Bangladesh garment exports rise 7.46% in July-Nov '17

Readymade garment exports from Bangladesh increased 7.46 per cent in...

Cotton price increase is not sustainable: ITF

Textiles | On 11th Dec 2017

Cotton price increase is not sustainable: ITF

The increase in cotton price seen last week is only a short-term...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Top executives
Textile industry, India

The event should be organised every year

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search