The decision came two weeks after the Vernon company said it would not renew Lubell’s contract. Back in October, the apparel retailer said it was evaluating strategic alternatives “with the objective of maximizing shareholder value.”
True Religion President Lynne Koplin will take over as interim chief executive.
Lubell, who founded the company in 2002, will stay on as chairman emeritus and a creative consultant for two years.
Perhaps the self-described hippie should consider an alternate career – he told The Times in 2009 that he has daydreamed about becoming a stand-up comedian.
The company has about 120 domestic stores and 30 locations abroad. Its high-end denim – which is usually priced well into the three figures – is also sold in boutiques and department stores.