Home / Knowledge / News / Apparel/Garments / Abercrombie & Fitch separates Chairman & CEO roles
Abercrombie & Fitch separates Chairman & CEO roles
29
Jan '14
Abercrombie & Fitch Co. announced that it has appointed Arthur C. Martinez, Terry Burman, and Charles R. Perrin to the Abercrombie & Fitch Board of Directors, effective immediately, and that it has separated the roles of Chairman of the Board and Chief Executive Officer. Mr. Martinez has been appointed Non-Executive Chairman.  Each of the new directors satisfies the independence standards of the New York Stock Exchange.

With the addition of Messrs. Martinez, Burman and Perrin, the Abercrombie & Fitch Board will expand to 12 members, all of whom are annually elected. As part of its commitment to being a leader in corporate governance practices, the Company also announced that its Board of Directors has determined to terminate the Company's Shareholder Rights Plan. 

Michael S. Jeffries, who has served as Chairman of the Board since 1996, will continue to serve as a Director and as the Company's Chief Executive Officer. In connection with the separation of the roles of Chairman and Chief Executive Officer, Craig Stapleton, who has served as Lead Independent Director since 2010, will no longer serve in that role but will continue to serve as a Director and as Chair of the Nominating and Board Governance Committee. 

Mike Jeffries, CEO, said, "I have strongly supported the significant corporate governance enhancements the Company has made in the past few years, and I am thrilled by the announcements we are making today. Arthur Martinez brings extensive sector expertise, deep boardroom experience, and valuable perspectives to the new role of Non-Executive Chairman.

“I am confident that he is the right choice to lead the Board of Abercrombie & Fitch as we execute against our strategic plans and move in to the next phase of the Company's growth. Terry Burman and Charlie Perrin also bring extensive boardroom and retail experience and, along with Arthur, will be outstanding additions to the Abercrombie & Fitch Board. I could not be more excited to welcome them to Abercrombie & Fitch."

Craig Stapleton, Chair of the Nominating and Board Governance Committee and former Lead Independent Director, said, "These significant changes demonstrate the Company's ongoing commitment to being a leader in corporate governance best practices and responding to shareholder concerns.

"The Company will continue to review additional corporate governance enhancements as part of this commitment. We are excited about the additions of Arthur, Terry and Charlie to the Board, all of whom are highly qualified and seasoned executives with distinguished track records of success."

Arthur Martinez said, "I am honored to join the Board of Abercrombie & Fitch and take on the role of Non-Executive Chairman. This is a company with iconic global brands, highly talented employees and tremendous potential.  I look forward to working with Mike, the other members of the Board, and the management team to build on the Company's brand positioning and global appeal, and create long-term value for shareholders."

Abercrombie & Fitch

Must ReadView All

Jalila Essaïdi working with cow dung to create fabrics. Courtesy: Mike Roelofs

Fashion | On 29th Aug 2016

From dung to fashion

Dutch designer Jalila Essaïdi has developed a new material using cow...

Textiles | On 29th Aug 2016

India to build China’s Keqiao like mega textiles city

NITI Aayog’s proposal to build a mega textile city on the lines of...

Apparel/Garments | On 29th Aug 2016

NRF welcomes release of online sales tax bill draft

The National Retail Federation (NRF), an apex body of US retailers,...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
August 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search