Iconix’s executive chairman Peter Cuneo steps in as the company's Interim CEO

Iconix Brand Group, Inc. has announced that Peter Cuneo, Executive Chairman of the board of directors, will serve as Interim CEO, effective immediately. He has been appointed in place of John Haugh, who has resigned from the position of CEO and President as well as member of the board to pursue other opportunities.

Commenting on the development, Drew Cohen, Lead Independent Director of the Iconix Board, said in a statement: "The Iconix board regularly evaluates leadership to ensure that we have the right mix of skills and experience in place to drive growth and value creation for all of our stockholders. We are fortunate to have someone of Peter's caliber, with an extensive track record of revitalizing leading consumer brands and direct experience leading Iconix as Interim CEO from August 2015 to April 2016.”

Peter Cuneo takes over as Interim CEO of Iconix

The company said that since 1983, Cuneo has completed seven turnarounds of distressed branded businesses in the global media and consumer products sectors. From 1999 to 2009, he played a lead role in the turnaround of Marvel Entertainment Inc. As president and CEO, he led Marvel, post-bankruptcy, to a prominent position in the entertainment industry. He then served as vice chairman of the board, providing active strategic leadership, which culminated in its 4.4 billion dollars sale to Disney at the end of 2009.

Previously, Cuneo was president and CEO of Remington Products Company. He joined the company as it was near bankruptcy and, the company added, in less than four years, executed a successful turnaround of the business and facilitated its sale to private equity investors. He has also served as president of the Security Hardware Group of the Black & Decker Corporation, president of Bristol-Myers Squibb Pharmaceutical Group in Canada and president of the Clairol Personal Care Division. Cuneo is currently the Managing Principal of Cuneo & Company, LLC, a private investment and management company.

"I am committed to helping Iconix as Interim CEO at this important time in the company's history. We are addressing the challenges facing the company head on, and are moving forward with focus and a sense of urgency. I look forward to working closely with the board and management team as we search for a permanent CEO and best position Iconix to deliver growth and stockholder value creation," added Cuneo.

Cuneo currently sits on the board of the Foundation for the National Archives in Washington, DC as Co-Head of the Development Committee and has served two tours as a Lieutenant in the U.S. Navy in the Vietnam War. He received his MBA from Harvard Business School and holds a Bachelor of Science in Glass Science (Ceramic Engineering) from Alfred University, where he has served on the board of trustees since 1990. He also recently completed six years as Chairman of Alfred's board and was awarded an honorary doctorate degree in 2013.

Picture:Lee Cooper website