Vince Holdings CFO departs

The New York-based fashion company said it has appointed Michael Hand to serve as interim chief financial officer, effective July 1. He will immediately start working with the company to facilitate a smooth transition in partnership with Levy, while a permanent replacement is identified.

Hand is veteran corporate finance executive with over 40 years of financial, operations and general business experience in both public and private organizations.

During his career, he has worked with consumer goods companies including retail, wholesale, e-commerce businesses, and has led financial and accounting teams at Marc Jacobs, Cole Haan, Coach, and Movado as well as Sotheby’s and PepsiCo.

In addition, Vince also announced that David Stefko, retired Vince Holding Corp. chief financial officer, has been appointed to the board of directors and will extend his role as an advisor to the company through this transition.

“I look forward to working with Michael and believe his experience will be an asset to our organization as we move forward,” said Jack Schwefel, chief executive officer, Vince.

“I am also pleased to have the continued support and guidance from Dave as he transitions onto our board of directors and remains a trusted advisor to our team. ​On behalf of the organization, I want to thank Amy for her leadership and contributions to Vince during her tenure. We wish her success in her future endeavors."

In its most recent trading update, Vince Holdings announced sales for the first quarter dove 18.3% to $64.1 million, on the back of the winding down of its Rebecca Taylor business and small decline in its Vince brand.