Dive Brief:
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As it looks to find a new CEO, Abercrombie & Fitch Co. has a team of executives working together to fill the role during the transition, according to Bloomberg.
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COO Jonathan Ramsden, Abercrombie president Christos Angelides, and Hollister president Fran Horowitz are running the retailer, which has no interim CEO. The CEO search is focused on these three executives, according to Bloomberg.
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Longtime CEO Michael Jeffries stepped down in December after it had become clear that his logo-centric, body-centric, cool-kids approach to marketing and merchandising was no longer a winning strategy.
Dive Insight:
Bloomberg reports that the teen-apparel retailer is fine with this interim team approach, even though one of the three may be ultimately chosen as CEO. The company has an outside search firm taking a look for possible outside candidates.
But no matter who ultimately comes aboard, the retailer is badly in need of vision. Jeffries’ previous vision has certainly fallen out of favor and the last vestiges of it, which remain in some of the stores and merchandise, must finally go. Still, it was a vision. The question is and has been for a while now — what’s going to replace it?