Peter Kim, the CEO of Hudson Clothing, has resigned from the board of directors of Joe’s Jeans. Kim joined the board in 2013 when Joe’s Jeans acquired Hudson for $97.6 million.
Kim, who remains CEO of Hudson, announced that he has hired financial and legal advisors — B. Riley & Co. LLC and Sullivan & Cromwell LLP, respectively.
A statement released by B. Riley on Kim’s behalf said, “While Mr. Kim has not made any decisions in respect of any proposals regarding Joe’s Jeans, Mr. Kim has asked the Board to permit B. Riley access, under appropriate confidentiality arrangements, to the Company’s financial information and records to facilitate Mr. Kim in making any decisions. To date, the Company has not permitted B. Riley that access. There can be no assurances that Mr. Kim will make any proposals with respect to the Company.”
Hudson was founded by Kim in 2002.