SYDNEY: Elaine Vincent's term as CEO of UnderCoverWear has come to dramatic end, with the company announcing she will depart her role effective today (March 31).
UnderCoverWear announced on March 17 that Vincent was scheduled to part ways with the company when her contract expired on June 30, 2010. However a statement issued by UnderCoverWear today revealed Vincent would be leaving three months earlier than previously planned, bringing to an end her 15 years of work for the company.
“The company has since agreed with Ms Vincent that she will resign from the Board of Directors effective 31st March 2010,” the statement said.
Vincent's replacement, Simon Pervan, will assume the role of CEO effective March 31. Pervan joined UnderCoverWear in 2008 and was previously the brand's national sales and marketing manager.
In addition to the change in CEO, UnderCoverWear has also appointed a new non-executive member to its Board of Directors. Rick Lowry will join the board effective from March 31. Lowry was previously the director of retail operations for Myer and has also worked for Indonesia's largest retail group Matahari.