Theo Karpathios, former Wholesale and International CEO of SuperGroup Plc, the listed enterprise behind the Superdry brand, unexpectedly tendered his resignation and stepped down from the Board of Directors last Tuesday, August 14.

Karpathios, who still owns a 14.77% stake in the British firm, joined Superdry in 2005. Together with Design Director James Holder, Karpathios helped founder Julian Dunkerton transform his clothing business into a global brand. According to a corporate statement, Karpathios leaves on good terms, hoping to “move forward to take on new challenges.” The company has begun to search for a successor.

SuperGroup Chairman Peter Bamford honoured Karpathios for his credits, saying: “Theo, as one of the founders of SuperGroup, can take significant credit for building the company into the international brand it is today and the board would like to thank him for his contribution to the development of SuperGroup on the international stage. We are sorry that Theo has decided to stand down from the board and we wish him well in his future endeavors.”

SuperGroup currently runs 103 UK and European standalone retail stores, 71 UK and 50 international concessions and 130 franchised and licensed stores around the globe. The brand is sold in 54 countries worldwide via the franchised and licensed network and in 101 countries via its online shop. In April, SuperGroup's shares fell 37% in a day after it issued its fourth profit warning in a year. The company’s respective miscalculations amount to a total of £2.5m.