Jack Schwefel has stepped down as CEO of the luxury fashion label Vince after two years of holding the role.

David Stefko, Vince’s director and former CFO, has been named as its interim CEO until the company finds a permanent successor.

Having more than 30 years of senior finance and executive management expertise, Stefko has been on the board since last June after serving as the company’s CFO from 2015. He was also the interim CEO of Vince from August 2020 until March 2021. 

“The Board thanks Jack for his work in positioning Vince for its next chapter of growth and wishes him the best as he pursues other opportunities,” said Michael Mardy, chairman of Vince.

“Through his experience as CFO and as a member of our board, David brings a significant understanding of the Company and is well-respected across the organization. Having previously served as Interim CEO during a time of prior transition and amidst the volatility of the Covid-19 pandemic, the Board is confident in David’s ability to lead the organization during this period.”

The company said it remains on track with its profitability objectives for FY23.

Founded in 2002, the global luxury apparel and accessories brand operates 48 full-price retail stores, 15 outlet stores, and its e-commerce site.