J. Crew chief executive steps down
US fashion retailer J. Crew has announced that its chief executive James Brett has stepped down.
In a statement issued by the company, Brett said that he and J. Crew's board were unable to agree on how to take the business further following a recent brand relaunch.
He said: "Returning J. Crew to its iconic status required reinventing the brand to reflect the America of today with a more expansive, more inclusive fashion concept. However, despite the recent brand relaunch already showing positive results, the board and I were unable to bridge our beliefs on how to continue to evolve all aspects of the company."
Brett's responsibilities will temporarily be assumed by an office of the chief executive comprising four senior J. Crew executives including Michael Nicholson, president and chief operating officer, Adam Brotman, president and chief experience officer, Lynda Markoe, chief administrative officer, and Libby Wadle, president of Madewell Brand.
The arrangement will last until the company establishes a permanent management structure.
The board said: "Jim's passion and experience brought new energy to J. Crew and enhanced our ability to relate to a broad range of consumers, and we thank him for his hard work and thoughtful contributions to position our company for long-term success. Building on Jim's early progress, the leadership team remains committed to driving performance and results, as well as continuing to strengthen operations, enhance customer loyalty and extend brand reach."
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