Polartec has started the search for a new chief executive as its shareholders, led by Versa Capital Management, are considering a sale of the performance fabrics supplier. Polartec's current president and chief executive, Andrew Vecchione, said he was stepping aside and he would leave the company once a replacement was found. Meanwhile, he will remain with Polartec as a senior adviser, a member of the board of directors and a shareholder. Vecchione was warmly praised by Versa Capital Management for his track record at Polartec, where he spent eight years, the last five of them at the helm of the company.