Mark Maidment, Ben Sherman chief executive and creative director, left the company, following the company’s sale to US firm Marquee Brands.

Maidment told Drapers: “I have been with Ben Sherman for a long time, but it became clear that it was time for the new guys to have a go; it’s a completely amicable decision. Marquee are really passionate about the brand; they’re not making any knee-jerk decisions. This brand needs the next move to be the right one and I wish them all the best.”

On his next steps, he said: “There will be a smooth transition for the next month or so and then a well-deserved break. I’ll see what develops from there.”

Marquee Brands bought the business from US private equity firm Oxford Industries in July, shortly after the firm also acquired Italian luxury brand Bruno Magli.

Maidment had worked at Ben Sherman for 13 years and took over as chief executive in April 2013, Draper’s wrote. Simon Smith was appointed last week as the chief restructuring officer and will act as interim chief executive.

The company’s chief operating officer and group finance director Lindsay Dunsmuir also resigned at the end of July and has been replaced by turnaround specialist Neil Sharma-Burford in the role of chief operating officer, Draper’s reported.