Drexler Steps Down as J.Crew Chair

J.Crew’s (New York) former CEO and Chairman – and the longtime executive face of the brand – Milliard “Mickey” Drexler has stepped down as the company's Chairman to pursue his own endeavor. The executive will be replaced by Chat Leat, who also sits on the board.

Drexler is retiring to commit his full attention to his company Drexler Ventures, which advises brands, including Outdoor Voices (Austin, Texas), a men and women’s activewear brand, and Warby Parker (New York), according to Women’s Wear Daily. He still owns 10 percent of J.Crew Group and intends to hold onto his stake, and he will continue to serve as a strategic advisor to J.Crew’s office and the company’s board.

“It’s been a privilege to have had more than 15 years with J.Crew Group, both as CEO and Chairman of the board. J.Crew and Madewell have been long admired as iconic American brands, and I am thankful to have been a part of their evolution throughout the years,” said Drexler on Friday after making the announcement.