True Religion CEO and Founder Steps Down (TRLG)

True Religion CEO and Founder Steps Down

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Click Here Now

In one fell swoop, Vernon, Calif.-based True Religion Apparel (NASDAQ: TRLG ) lost its chairman, chief executive officer, and creative director on Tuesday, when founder Jeff Lubell decided to resign. Lubell says he will stay on as a "creative consultant" to the company he founded for two years.

True Religion advised in a statement that its Board of Directors has appointed company President Lynne Koplin to take over as interim CEO. How long Koplin might hold that post is not clear, however.

True Religion announced back in October that its board is in the process of reviewing "strategic alternatives" for the company -- a phrase that often refers to an effort to sell the company. In the event of such a sale, it's possible that True Religion's new owner might prefer to choose its own candidate to run the company.

Before news of Lubell's departure, True Religion shares traded down Tuesday, falling 0.8% to close at $27.16.

More Expert Advice from The Motley Fool

The Motley Fool's chief investment officer has selected his No. 1 stock for the next year. Find out which stock in our brand-new free report: "The Motley Fool's Top Stock for 2013." I invite you to take a copy, free for a limited time. Just click here to access the report and find out the name of this under-the-radar company.

Jeff Fischer and team have demystified options. And they can rack up income like $1,030... $2,626... and $3,228 on a schedule you can set your watch by!
That's why we're glad to announce every single one of their closely guarded strategies is available to YOU during May and June – 100% FREE, no strings attached! Just enter your email address in the box below...

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.