Peter Cuneo, chairman of the board of directors at the Iconix Brand Group, has assumed the role of executive chairman. He has been on the board since October 2006 and served as interim chief executive from August 2015 to April 2016. In his new role, he will focus on evaluating strategic opportunities, as well as overseeing the company's financial and legal functions. The assets of Iconix include Umbro, Danskin, Lee Cooper, Ocean Pacific, Starter and other brands. Iconix has been faced with various challenges. In the third quarter, its revenues fell by 12 percent to $53.2 million, with a drop of 7 percent excluding divested brands. It posted an operating loss of $595.9 million for the period, after taking a trademark and goodwill impairment charge of $625.5 million. On an adjusted basis, it made an operating profit of $31.6 million, 10 percent higher than the same period a year ago.