A specialty retailer has put its own board chairman into the top executive seat on a temporary basis. That arrangement, an interim appointment, holds the position open while the company searches for a permanent chief executive. Destination XL Group (NASDAQ: DXLG), the Big + Tall men's apparel and footwear retailer, named Lionel Conacher to the interim chief executive role effective August 12, 2026.
The departure it follows
Harvey Kanter, who served as chief executive for more than seven years, is retiring effective August 11, 2026, one day before Conacher's appointment takes effect. Kanter is also stepping down from the DXL board at that time. In a statement attributed to him in the company's filing, Kanter noted that Conacher brings significant mergers-and-acquisitions experience that will help navigate the pending FullBeauty merger and an unsolicited bid from Zodiac Partners in the near term.
Two deals on Conacher's desk
The timing of this leadership change matters because DXL is already deep in deal activity. The company has filed a preliminary proxy statement connected to a proposed merger with FBB Holdings I, Inc., doing business as FullBeauty. Shareholders will vote on whether to approve the issuance of DXL common stock in that transaction. Separately, Zodiac Partners has launched an unsolicited tender offer, a direct bid to purchase DXL shares from stockholders that the board did not initiate.
Conacher's record and new constraints
Conacher has sat on DXL's board since June 2018 and has served as chairman since August 2020. He stepped into a CEO seat before, at SRx Health Solutions, Inc., where he held the interim chief executive role from September 2022 to May 2023. His earlier career includes positions as Managing Partner of Next Ventures, Senior Advisor at private equity firm Altamont Capital Partners, and President and Chief Operating Officer of investment bank Thomas Weisel Partners. He also served as Chairman of Wunderlich Securities, an Altamont portfolio company.
Moving into the executive role comes with board-level trade-offs. Conacher stepped down as Chair of the Audit Committee and as a member of the Compensation Committee. Carmen Bauza has been appointed Lead Independent Director, a role that anchors the board's independent members when the chairman also holds an executive title.
The company said it plans a thorough search for a permanent chief executive. No timeline for that process appears in the filing.