Peter Williams, the founder and majority owner of menswear brand Jack Wills has agreed to resume his role as the group’s CEO two years after he stepped aside.

Williams stepped aside after outgoing CEO Wendy Becker, then COO, was appointed in 2013 to help prepare the business for an IPO.

Following a detailed review of Jack Wills’ growth opportunities, the group’s board and its shareholders have now decided not to pursue an IPO for the time being, and accordingly Wendy has decided to step down with immediate effect.

Said Becker: “I have thoroughly enjoyed my time at Jack Wills and as a member of the board, fully agree with the decision not to press ahead with an IPO at this moment. I wish Peter and his colleagues every success in building on Jack Wills’ great brand and great heritage.”

Jack Wills has five stores in Hong Kong – at Yoho Midtown, Leighton Centre, Festival Walk, LCX and Sha Tin.

Williams said Becker has been instrumental in building a talented senior operating team and recently steered the group through its 16th consecutive year of growth. The board would like to thank her for her passion and commitment, and wish her all the best for the future. Becker remains a shareholder in the company.

Since he stepped down as CEO in 2012, Williams has remained closely involved with Jack Wills, the business he founded in a small shop in Salcombe, Devon in 1999.

Said Williams: “I am extremely excited about resuming my role as Jack Wills’ CEO after a two-year break. I would like to thank Wendy for her significant contribution to the business and for putting in place the people and the processes that will enable us to continue our growth. I’m looking forward to working with the whole team to prepare Jack Wills for its best ever Christmas and ensure that our fabulous clothes are in everyone’s stockings.”