Levi Strauss & Co (LS&CO.) announced that its Chief Operating Officer, John Anderson, will become the company's next President and Chief Executive Officer when Phil Marineau retires at the end of the company's fiscal year, November 26, 2006.
On July 6, 2006, LS&CO. announced Marineau's retirement and the promotion of Anderson as chief operating officer. At the time, the company stated that the board of directors would be meeting to reaffirm its CEO succession plan. The board met on July 13 and accepted Marineau's recommendation to designate Anderson, a 27-year veteran of the company, as its next president and CEO.
"John is an excellent choice to lead LS&CO. to sustained, profitable growth," said Phil Marineau, chief executive officer. "John has consistently delivered exceptional results in various leadership roles worldwide and has a tremendous following in the company. Based on his long and extensive service with LS&CO., John is keenly aware of what it will take to continue to build our brands and businesses globally."
"I am absolutely thrilled and honored to have the opportunity to lead such a distinguished company," said Anderson. "Phil and I will work very closely during the next several months to ensure a smooth transition and build on our business momentum. I look forward to capitalizing on LS&CO.'s global market presence and optimizing growth opportunities for the company and our shareholders."
John Anderson, 55, has been leadingthe Asia Pacific Division since 1999 and the company's global supply chain organization since March 2004. In addition to the markets throughout Asia, the division includes Latin America, the Middle East and Africa. Anderson joined LS&CO. in 1979 as a product manager in Australia.
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