The veteran merchandiser comes from Urban Outfitters, where she was promoted to president of the brand in January following the exit of Trish Donnelly, who has since joined PVH as Americas chief executive and global head of Calvin Klein.

The founder’s surprise return to the troubled activewear label after a sudden exit is the latest twist in a saga that underscores the issue with creative leaders who lack the operational savvy to take a start-up to the next level.