Retail Removal: Abercrombie & Fitch Strips CEO Mike Jeffries of Chairman Spot

Posted Thursday January 30, 2014 9:12 AM GMT

He’s been a constant headache for the public relations department over at Abercrombie & Fitch and CEO Mike Jeffries is finally feeling the negative blowback of his disparaging actions.

Following the decision to renew Jeffries’ contract, A&F has removed him as chairman of their board and appointed 73-year-old Arthur C. Martinez in his place.

Though he can’t possibly be okay with the move, Mike played nice with his press statement- “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.”

In the past, Jeffries has made insensitive and derogatory statements regarding overweight and unpopular teens, indicating that Abercrombie & Fitch is not the brand for them. As a result the company has suffered from declining sales and stock values.

Photo Credit: Getty Images


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