Abercrombie & Fitch Co. Announces Organizational Change as Part of Ongoing Transformation
May 14 2019 - 08:00AM
Abercrombie & Fitch Co. (NYSE: ANF) today announced changes as
part of its ongoing ‘transforming while growing’ phase, which
include the decision to eliminate the role of chief operating
officer. In the newly streamlined organization the company’s chief
financial officer, chief information officer, head of global supply
chain, and head of the transformation management office will now
report to the CEO. The changes are effective immediately, and the
company’s COO, Joanne C. Crevoiserat, will leave the company
following a short transition period.
“Based on the progress of our company-wide transformation
initiatives, and the continuing focus on driving additional agility
and efficiency throughout the business, we have decided to
eliminate the COO role. Joanne has been a key partner in our
transformation journey over these past five years, helping
stabilize the business and embed transformation across the
organization. I am grateful for her many contributions across the
company, which will have a lasting, positive impact, and we wish
her every success in the next chapter of her career,” said Fran
Horowitz, Chief Executive Officer, Abercrombie & Fitch
Co.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995 A&F cautions that any
forward-looking statements (as such term is defined in the Private
Securities Litigation Reform Act of 1995) contained herein or made
by management or spokespeople of A&F involve risks and
uncertainties and are subject to change based on various important
factors, many of which may be beyond the Company’s control. Words
such as “estimate,” “project,” “plan,” “believe,” “expect,”
“anticipate,” “intend,” and similar expressions may identify
forward-looking statements. Except as may be required by
applicable law, we assume no obligation to publicly update or
revise our forward-looking statements. The factors disclosed in
“ITEM 1A. RISK FACTORS” of A&F’s Annual Report on Form 10-K for
the fiscal year ended February 2, 2019, in some cases have
affected, and in the future could affect, the company’s financial
performance and could cause actual results for Fiscal 2019 and
beyond to differ materially from those expressed or implied in any
of the forward-looking statements included in this press release or
otherwise made by management.
About Abercrombie & Fitch
Co.Abercrombie & Fitch Co. (NYSE: ANF) is a leading,
global specialty retailer of apparel and accessories for Men, Women
and Kids through three renowned brands. For more than 125 years,
the iconic Abercrombie & Fitch brand has outfitted innovators,
explorers and entrepreneurs. Today, the brand reflects the updated
attitude of modern consumer, while remaining true to its heritage
of creating expertly crafted products with an effortless, American
style. The Hollister brand epitomizes the liberating and carefree
spirit of the endless California summer for the teen market.
abercrombie kids creates smart, playful apparel for children ages
5-14, celebrating the wide-eyed wonder of childhood.
The brands share a commitment to offering
products of enduring quality and exceptional comfort that allow
consumers around the world to express their own individuality and
style. The Company operates more than 850 stores under these
brands across North America, Europe, Asia and the Middle East, as
well as the e-commerce sites www.abercrombie.com and
www.hollisterco.com.
Investor Contact:Pam
QuintilianoAbercrombie & Fitch Co.(614)
283-6751Investor_Relations@anfcorp.com |
Media Contact:Ian BaileyAbercrombie
& Fitch Co.(614)
283-6192Public_Relations@anfcorp.com |
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