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Tom Nolan resigns as CEO of Prospect Brands

By Kristopher Fraser

Feb 26, 2016

Tom Nolan, the president, chief executive officer, and founder of Prospect Brands, has resigned.

Nolan originally founded the North Carolina-based Prospect Brands LLC in 2012 in partnership with McCarthy Capital Fund V, an Omaha-based private equity firm.

In an e-mail to WWD on Thursday, Nolan said: “It’s difficult to leave the company that I founded, but I’ve really enjoyed the time that I’ve spent building Duck Head, Gyde and Crittenden as well as all the lessons I have learned along the way. Most importantly, I’m thankful for the forever partnerships, friendships and family we’ve built over the last few years. As hard as it is to say goodbye, I’m looking forward to the future and the new challenges it will bring. I wish the company every success in its future endeavors and I hope to talk with you all soon.”

Prior to starting Prospect Brands, Nolan was the senior vice president of golf and tennis at Ralph Lauren. He has also worked as a publisher for Conde Nast, and as a regional sales manager for Ziff Davis.

In 2013, when Prospect Brands acquired Duckhead, Nolan began building it into a lifestyle brand. In 2014, the company acquired Crittenden & Co., a high priced men's wear line. The other brand under Prospect Brands' belt is Gyde, a technology outerwear brand.

Neither Nolan nor a representative from Prospect Brands was immediately available for comment.