Most of Superdry’s board members have quit following the return of founder Julian Dunkerton. Top executives are among the board members who have left their positions.

Earlier in March, Superdry asked its shareholders to reject Julian Dunkerton’s pledge for a seat on the board. It believed that his appointment would lead to the company pursuing a strategy that would fundamentally fail, adding that the return of its founder would distract the business from its current global digital brand strategy.

However, the majority of shareholders who voted at the general meeting supported the founder’s return.

Shares in the fashion brand were trading over 10% lower on Wednesday morning following the events a day earlier.

On Tuesday Julian Dunkerton won the vote of 51.15% of shareholders. His return comes after he quit a year ago over a disagreement of strategy.

Only hours after this was confirmed the company announced the departure of Chief Executive Euan Sutherland and Chairman Peter Bamford.

The departure of the two contribute to a wider departure of the company’s management, and comes after five years of leadership.

“Peter Bamford, Chairman of the Board, Euan Sutherland, Chief Executive Officer, Ed Barker, Chief Financial Officer, and Penny Hughes, Chairman of the Remuneration Committee, have resigned from the Board and will stand down with immediate effect,” a statement announced Tuesday afternoon reads.

“Dennis Millard, Minnow Powell, Sarah Wood and John Smith have given three-months’ notice under their contracts and will stand down as directors with effect from 1 July 2019,” it continued.

Founder Julian Dunkerton was appointed as Interim Chief Executive Officer and Peter Williams as Chairman of the Board. “We are very pleased to be joining the Board of this great British company. We look forward to rebuilding the Superdry brand and the business,” they both said in a statement.

As the fashion brand battles with a difficult trading climate, it announced a 49% decrease in its half-year profits in December, in addition to a profit warning released October last year.

At 10:38 BST Wednesday, shares in Superdry plc (LON:SDRY) were trading at -9.89%.