Andrew Rosen is stepping down as chief executive officer of Theory after 22 years in the position.
The 62-year-old, who also co-founded the contemporary firm 22 years ago, will be leaving his current role on 1 April (19), and instead will become an adviser at the company.
He will be succeeded by Dinesh Tandon, who is currently chief operating officer at Theory.
Speaking about the change in company line-up, Rosen told WWD: “I founded the company, and I think there’s a lot of strength with having a CEO who’s founded the company and has been around 22 years, and I also think a change in perspective for the company is not a bad thing. I think that for our company to move forward into the future, it’s obviously at some point in time going to have to change, and I think this is a good time for it to be happening.”
As for handing over the reins, Rosen is more than happy to be giving them to Tandon.
“I feel very comfortable about where our company is, and I feel very comfortable about Dinesh coming in, and I believe that Dinesh is going to do some amazing things. He’s different than me. This is going to be a real change for the company,” the entrepreneur added.
Tandon, 45, has been with Theory since 2013, when he joined the brand as CEO of the Greater China and Southeast Asia market, and was based in Hong Kong. He relocated to Theory’s headquarters in New York in 2017, where he was named COO.
To ensure a smooth transition amid Rosen’s departure, Tandon will work closely with the retail executive and Kazumi Yanai, chairman of Theory.
Bosses are yet to announce who will be stepping into Tandon’s former position of COO.
As for Rosen’s future plans, he insisted he will spend around half his time acting as an adviser at Theory, and the move shouldn’t be considered a retirement.
“This is not me retiring. This is me changing my perspective at Theory, and it will give me a new perspective on what I want to do personally and professionally,” he smiled.
© Cover Media