DALLAS, April 16, 2012 /PRNewswire/ -- The Board of Directors of Haggar Clothing Co. announced today the promotion of two longtime, outstanding senior executives. Michael Stitt, formerly President of Haggar's highly successful Canadian business, has become the Company's Chief Executive Officer and joined the Board. Tim Lyons, formerly President of Haggar's U.S. wholesale sales operations, has become the President of Haggar.
Stitt and Lyons are assuming their new responsibilities at a time when Haggar is poised to continue the steady revenue growth and strong profitability that it has posted since 2009. Industry veteran Paul Buxbaum guided the Company's senior team as CEO for the past 3 years. He will remain associated with Haggar as strategic advisor while returning to full-time management of his other business interests.
"Under Paul's capable leadership, Haggar has gained substantial share and continued its long record of innovation in the marketplace, most recently with the successful launch of a new brand, Life Khaki®. Haggar now moves enthusiastically into the next phase of our long term plan for domestic and international growth under the very talented direction of Michael Stitt and Tim Lyons," said Brian Leitch, co-chairman of Haggar's Board of Directors. "It is especially gratifying to be able to promote into these positions two executives with such long and successful track records at Haggar as Michael and Tim. Along with the rest of the senior executive team, their deep relationships with our customers and vendors, and their detailed knowledge of where we have been and where we want to go, will ensure a seamless transition and leave Haggar well positioned for the future."
"We are sincerely thankful for Paul's great leadership and contribution over the past three years. We look forward to this new change and believe that Michael and Tim's talents and energies will bring Haggar to the next level," said Johnny Tsai, co-chairman of Haggar's Board of Directors.
"In 1926, J.M. Haggar had a vision for a company with an entrepreneurial spirit and core family values. Those values continue to define Haggar today with a profound impact that permeates throughout the entire organization. It is a privilege to be part of such a great and historic company," said Michael Stitt. "This is a very exciting period for our Company. We continue to see market share gains and sales growth as a result of a variety of new product lines conceived by this management team. I look forward to continuing the development and execution of many innovative and strategic initiatives, working alongside Tim Lyons and the rest of our dynamic executive team." A 1988 graduate from the University of Western Ontario with an MBA from York University's Schulich School of Business, Stitt joined Haggar in 1999 and has served as President of Haggar Canada Co. since 2006. During this period, Haggar's Canadian business has delivered strong revenue and profitability gains.
"I'm excited to be working with Michael and our talented group of associates on the next phase of Haggar's growth. Paul has done an exceptional job of providing leadership. Michael and I look forward to accelerating the momentum and continuing to drive the innovation Haggar has become known for," said Tim Lyons, whose responsibilities have expanded to include involvement with Company-wide strategic planning and international expansion. Tim Lyons, who has served since October 2007 as President of Sales, has been with Haggar Clothing Co. for 32 years.
Paul Buxbaum said, "Working with Haggar has been uniquely rewarding. The popularity of the brand and remarkable results achieved through dedicated efforts of talented teams with a commitment to innovation and excellence has been a great experience. I look forward to tracking the continued progress of this marvelous brand and organization."
Since its beginnings in Dallas, Texas in 1926, the Haggar Clothing Co. has grown from a simple manufacturer of men's fine apparel into one of the most recognized brands in the market, with Haggar® casual pants, dress pants and suit separates and an extensive licensing program offering head-to-toe clothing options for style-conscious men of all ages and professions. The Company today enjoys the #1 market position in men's dress pants in the United States, as well as the #2 share in men's casual pants.
About Buxbaum Group
Buxbaum Group has built its reputation over the past 30 years as an advisor and investor working with companies domestically and internationally in a wide array of industries. Paul Buxbaum, an apparel industry veteran, has been its Chief Executive Officer since 1998.
SOURCE Haggar Clothing Co.