While reporting the resignation of Mads Ryder as chief executive, IC Group announced today a new structure, which is intended to increase the independence of the group's core brands and to redefine the functions that have been managed centrally up to now. The group's core brands include Peak Performance, Tiger of Sweden and By Malene Birger, which will be operated as independent business units in the future. Peter Thorsen has been asked by the board of directors to take over the role as interim CEO for the group. In the new configuration, the role of the CEO will be modified, the company said. The final plan and the future management structure will be determined at a board meeting within the next six months. At that stage, Thorsen's role as interim group CEO will cease. The changes will result in non-recurring costs which may impact the company's guidance for the financial year 2016/17. The interim report for the first half of 2016/17 is scheduled to take place on Feb. 28. The group said it expects to realize costs savings once the new plan has been implemented.

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