Eric Kaup, currently general counsel of the company, will serve as interim chief executive, said Hilco, which has a portfolio that includes the Halston, Tommy Armor Golf and Sharper Image brands.
Hilco, a unit of Hilco Trading LLC, made the announcement in a news release on Friday.
Salter was a founder of Hilco Consumer Capital in 2006. He plans to continue to advise on Hilco's portfolio of brands, the company said.
(Reporting by Brad Dorfman, Editing by Sandra Maler)