Danish womenswear brand By Malene Birger has a new head: as was announced yesterday, Morten Linnet will replace Charlotte Egelund as CEO effective immediately.

Egelund has been heading the company for 2.5 years. A corporate statement said that “By Malene Birger and CEO Charlotte Egelund have mutually decided to end the collaboration”. Morten Linnet comes from within the IC Group and has previously worked as vice president Corporate HR. Before joining IC Group nine years ago, he has held leading roles at Mars Inc., GN Store Nord and Nordea.

The staff change was a result of “the significant adjustment within IC Group and its related business conducted over the last 12 months”, as stated by the corporation. IC Group A/S is a Danish listed group formed as ‘IC Companys’ in 2001 by the merge of Carli Gry International and InWear Group. In 2013, the group sold two of its brands, Jackpot and Cottonfield, to Coop Denmark. InWear, Matinique, Part Two and Soaked in Luxury were sold the following year (with a subsequent name change to IC Group). The company’s current brand portfolio is made up of Tiger of Sweden, By Malene Birger, Peak Performance, Designers Remix and Saint Tropez.

With revenues of around DKK 2.6 billion and more than 1,000 employees, IC Group ranks among the largest clothing companies in the Nordic region.