Owner and chairman Dave Charlton has assumed day-to-day running of the 180-store value retailer after the departure of chief executive Mark Wimpenny and head of buying and merchandising Patricia Becquereau.
Charlton said the departure was 'amicable', but that he and the pair had 'different views on the direction of the business'.
'I think we're trading in line with the market - we're a few percentage points down on last year. But I personally think we can do better,' said Charlton.
He added: 'The outgoing team were trying to do more [Far East sourcing]. Realistically I don't think we will be doing that now. We don't have the experience of Far East importing and I didn't think we were seeing the price advantage.'
Charlton also intends to use more UK agents because the quantities required by The Officers Club did not warrant a big overseas strategy.
Wimpenny had been at the helm of the Newcastle-based retailer, which is 100 per cent owned by Charlton, for 18 months. The business includes 25 Petroleum factory outlet stores. Charlton also owns the fledgling Scandinavian retail chain Jack & Jones in the UK.
Charlton's return to the helm comes at a time when other retail entrepreneurs are taking a more hands-on approach. Last week, Philip Green said he was 'back in the engine room' at Bhs following a fall in sales and profits last year.
The Officers Club is one of the biggest private fashion retailers in the UK. The most recent accounts filed at Companies House indicate sales fell to£83.1 million in the year to August last year, from£85.1 million the year before.
In the same period, the business suffered a pre-tax loss of£191,000.
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