Abercrombie Names President

Abercrombie & Fitch Co. (New Albany, Ohio) has promoted Fran Horowitz to president and chief merchandising officer for the entire company, effective immediately. Horowitz was previously president of the company’s Hollister brand since October 2014 and will report to Arthur Martinez, the company’s executive chairman, reports The Columbus Dispatch.

According to Bloomberg Business, the company terminated Christos Angelides, president of its Abercrombie & Fitch brand. Angelides was terminated without cause and will receive his base salary for the next 18 months, as well as $4 million for forfeiture of an equity replacement grant and a prorated portion of his annual cash incentive.