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Shinola CEO to leave company at end of the year

Shinola_Retail_Location_in_Boston_Massachusetts

Shinola’s CEO is to depart the business at the end of the year.

The news was announced on Friday that Tom Lewand would be leaving the Detroit-based manufacturer of watches and leather goods after three years.

He joined the company in June 2016 after being let go from his role as president of the Detroit Lions and has not disclosed his reasons for leaving Shinola.

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His replacement is yet to be announced.

During his tenure, Lewand oversaw the launch of the first Shinola Hotel downtown and opened a new flagship store in January this year.

It’s been reported that he also oversaw a restructuring that cut its workforce by less than 5% in July.

“Decisions like these are never easy,” he said in a statement. “However, the amazing business and civic climate in our community has afforded me the chance to consider some once-in-a-lifetime professional opportunities, which I look forward to sharing at the appropriate time.”

Lewand’s departure follows that of Shinola’s president, Jacques Panis, in March 2018.

He is now the CEO of Troy-based New World Diamonds, a lab-grown diamond maker.

Shinola began in 2011, growing from a boutique watchmaker to now boasting more than 30 locations in the US, including two flagship stores.

 

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Zoe Monk

The author Zoe Monk