Headlines

A&F Ceo Resigns

Mike Jeffries stepping down effective immediately

Published

10 years ago

December 9, 2014

Abercrombie & Fitch (Columbus, Ohio) ceo Mike Jeffries stepped down from his post as head of the teen retail chain this morning. According to a company statement, Jeffries, 60, is retiring, effective immediately. He is also resigning his seat on the company’s board of directors, according to WSJ MarketWatch.

A&F says non-executive chairman of the board, Arthur Martinez, will become executive chairman. A&F’s board has begun a search for Jeffries’ successor.

Jeffries became ceo of the struggling brand in 1992. He steered the chain to success with controversial, provocative marketing that was often criticized for racy ads featuring scantily-clad teen models. Jeffries also came under fire in 2006 for comments deemed as “size-ist.” He told Salon, “A lot of people don’t belong [in our clothes], and they can’t belong … Are we exclusionary? Absolutely.”

Over the last four years, the company has struggled against lower sales and falling stock prices. Stock prices rose 6 percent this morning after the announcement.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design