Jörg Wahlers, former chief operating officer and chief financial officer at Escada, has taken up the same functions at Jack Wolfskin from Sept. 27. Wahlers takes over the CFO function from Axel Mau, who joined the German outdoor company in 2015 and left in August. But the combination with the COO function is new, created to reinforce the operational side of the business after the approval of Jack Wolfskin's financial restructuring plan earlier this year. Prior to his three years at Escada, the German fashion company, Walhers spent six years at Reckitt Benckiser and then three years as CFO at Villeroy & Bosch. The change comes about three months after Blackstone reached an agreement this summer to hand over control of Jack Wolfskin to a group of lenders in a debt for equity swap. The interests of the lenders are grouped together under a holding company in Luxembourg and a majority of the shares are held jointly by Bain Capital Credit, HIG/Bayside Capital and CQS. The lenders agreed to write off €255 million and reduce Jack Wolfskin's debt from €365 million to €110 million, while extending maturity to 2022. They also pledged to pump €25 million into the company as a super senior loan, to help reinforce the German company's liquidity position. The company remains under the leadership of its chief executive Melody Harris-Jensbach.

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