This audio is auto-generated. Please let us know if you have feedback.
Dive Brief:
- Andrew McLean was named the Lands’ End CEO-Designate and a member of the board of directors, effective Nov. 1, according to a company press release.
- McLean is the president of International at American Eagle Outfitters. He will assume the CEO role following the planned retirement of Jerome Griffith on Jan. 27, 2023.
- Griffith will continue to serve as a director and is expected to be nominated for reelection at the board’s 2023 annual meeting. He will become executive vice chair after he retires as CEO.
Dive Insight:
After five years, Lands’ End CEO Griffith is on his way out, and an American Eagle Outfitters executive is gearing up to take his place.
During his time with the company, Griffith helped Lands’ End grow e-commerce, upgrade its infrastructure, and expand its distribution network to include retail partners including Kohl’s, Amazon, QVC and Target. Griffith came to the retailer in 2017 from Tumi Holdings and worked in leadership roles at Esprit, Tommy Hilfiger and J. Peterman.
“I look forward to continuing to lead the Lands’ End team during the holiday season and through the conclusion of our fiscal year before handing the reins to Andrew,” Griffith said in a statement.
Griffith will assist in the transition of his chief executive role to McLean — a senior retail executive with over two decades of experience. At American Eagle Outfitters, McLean leads international operations and innovation across Canada, Greater Asia, Europe and Mexico. He oversees the global expansion of AEO brands and efforts for global brand delivery, international strategy, marketing and customer experience. McLean began his time at AEO in 2016 and was previously the company’s chief commercial officer. Prior to his work with the specialty retailer, he held senior positions at Gap, Liz Claiborne and Urban Outfitters.
“I have closely followed Lands’ End throughout my career and have long admired the company’s strong heritage, brand values and universal recognition as a leading classic American lifestyle brand,” McLean said in a statement. “Jerome and his team have built a strong foundation, and I am excited to work closely with management and the Board to help Lands’ End leverage its many opportunities and drive strong, sustainable financial performance.”
In its latest earnings, Lands’ End reported a net revenue decrease of 8.6% year over year to $351.2 million, which exceeded the company’s guidance. U.S. e-commerce decreased 14.4%, and third party net revenue increased nearly 43%, primarily attributed to growth in the Kohl’s online marketplace.
via https://www.aiupnow.com
Kaarin Vembar, Khareem Sudlow
