Abercrombie & Fitch CEO Michael Jeffries Steps Down
After two decades, Michael Jeffries, the controversial figurehead of Abercrombie & Fitch, has retired as chief executive.By Jamal Andress | December 10, 2014
After two decades, the controversial figurehead of Abercrombie & Fitch, CEO Michael Jeffries, has retired as chief executive. The retirement comes less than a year after Jeffries was stripped of his chairman title.
In a statement Jeffries said: "It has been an honor to lead this extraordinarily talented group of people. ... I believe now is the right time for new leadership to take the Company forward."
The company hasn't been doing well in recent years with brands like H&M and Forever 21 luring away the brand's once-loyal young audience with much lower prices.