Vernon jeans maker True Religion Apparel Inc. will not renew its employment agreement with Jeff Lubell, the company’s founder, chief executive, chairman and creative director.
In a filing with the Securities and Exchange Commission on March 1, the company said it believes that “it would not be appropriate” to renew Lubell’s three-year contract, which expires June 30.
The company announced last year that it was exploring strategic options. Lubell will continue in his current roles and the company will explore an alternative arrangement with him.
Lubell founded True Religion in 2002. The company declined to comment for this article.
Shares closed Monday up 4 percent to $27.85 on Nasdaq.