Lands’ End Announces CEO Succession Plan
September 12 2022 - 8:00AM
Lands’ End, Inc. (NASDAQ: LE), a classic American lifestyle brand,
today announced that Andrew McLean, President, International of
American Eagle Outfitters, will join Lands’ End as CEO-Designate
and as a member of the Board of Directors on November 1, 2022. Mr.
McLean, 53, will assume the role of CEO following the planned
retirement of Jerome Griffith, 64, at the conclusion of Lands’
End’s 2022 fiscal year ending January 27, 2023. After the CEO
transition, Mr. Griffith will continue to serve as a Director and
is expected to be nominated for re-election to the Board at the
Company’s 2023 Annual Meeting of Stockholders. As part of this
transition, he will become Executive Vice Chair after he retires as
CEO.
Josephine Linden, Chair of the Lands’ End Board of Directors,
said, “On behalf of the Board, I would like to thank Jerome for his
exceptional leadership over the past five years and for strongly
positioning Lands’ End to capitalize on the opportunities ahead to
generate significant value for our shareholders. Jerome has played
a pivotal role in generating significant e-commerce growth,
developing and expanding Lands’ End’s uni-channel distribution
network to include top partners such as Kohl’s, Amazon, QVC and
Target, stewarding the Company through numerous successful
infrastructure upgrades, and increasing the Company’s recognition
and engagement with consumers through unique collaborations. We are
grateful for his commitment and dedication to Lands’ End and are
pleased he will continue serving Lands’ End as a member of the
Board after his retirement and assist in this important
transition.”
Mr. Griffith said, “I look forward to continuing to lead the
Lands’ End team during the holiday season and through the
conclusion of our fiscal year before handing the reins to Andrew.
The past five years have been professionally and personally
rewarding for me as I’ve had the privilege of working with and
learning from our exceptionally talented team as we ushered in a
new era of growth and success for Lands’ End. I am confident that
our digitally driven business model and highly loyal customer base
has positioned Lands’ End well for long-term growth and success. I
look forward to working closely with Andrew to ensure a smooth
transition and continuing to support the Company’s mission and
strategic direction serving as Executive Vice Chair and on the
Board.”
Mrs. Linden added, “Andrew McLean is an accomplished retail
executive with a strong track record of driving significant growth,
productivity and expansion across multiple channels and
geographies. He has an acute understanding of the evolving retail
landscape, having successfully scaled several iconic retail brands
that, like Lands’ End, have strong connections with their
customers. We are confident he is the right person to lead Lands’
End in its next chapter of growth and are thrilled he is joining
our company.”
Mr. McLean commented, “I have closely followed Lands’ End
throughout my career and have long admired the Company’s strong
heritage, brand values and universal recognition as a leading
classic American lifestyle brand. Jerome and his team have built a
strong foundation, and I am excited to work closely with management
and the Board to help Lands’ End leverage its many opportunities
and drive strong, sustainable financial performance.”
Andrew McLean BiographyMr. McLean is an
accomplished senior retail executive with over 20 years of
experience leading organizational growth for several Fortune 500
businesses, as well as in the start-up sphere. He was appointed
President, International at AEO, the parent of American Eagle and
Aerie brands, in 2022. In this role, Mr. McLean leads International
Operations & Innovation across Canada, Greater Asia, Europe and
Mexico and oversees global expansion for AEO’s industry-leading
brands. In addition, he has direct responsibility for global brand
delivery and international strategy, marketing and customer
experience. Mr. McLean joined AEO in 2016 and previously held the
role of EVP – Chief Commercial Officer. He began his career as a
strategy consultant with AT Kearney and later held senior positions
at several successful retailers including Gap, Liz Claiborne and
Urban Outfitters. Outside of his professional commitments, Mr.
McLean has been an active supporter of the NY Fashion Tech Lab, an
organization committed to supporting retail innovation among female
entrepreneurs. He received a B.S. in Engineering from the
University of Manchester, a Master’s in Engineering Management from
the University of Cambridge and an MBA from Harvard Business
School.
About Lands' End, Inc.Lands’ End, Inc.
(NASDAQ:LE) is a leading uni-channel retailer of casual clothing,
accessories, footwear and home products. We offer products online
at www.landsend.com, on third party online marketplaces and through
our own Company Operated stores, as well as third-party retail
locations. We are a classic American lifestyle brand with a passion
for quality, legendary service and real value, and seek to deliver
timeless style for women, men, kids and the home.
Forward-Looking Statements This press release
contains forward-looking statements that involve risks and
uncertainties, including statements regarding the Company’s
positioning and ability to capitalize on the opportunities ahead to
generate significant value for shareholders; the belief that the
Company’s digitally driven business model and highly loyal customer
base will position Lands’ End well for long-term growth and
success; and the ability of Lands’ End to leverage its many
opportunities and drive strong, sustainable financial performance.
The important factors and uncertainties, discussed in the “Risk
Factors” section of the Company’s Annual Report on Form 10-K for
the fiscal year ended January 28, 2022, among others, could cause
actual results to differ materially from those described in these
forward-looking statements. The Company intends the forward-looking
statements to speak only as of the time made and does not undertake
to update or revise them as more information becomes available,
except as required by law.
CONTACTS:
Investors:ICRBruce Williams (332)
242-4303Bruce.Williams@icrinc.com
Media:FGS GlobalAndy Duberstein/Hayley
CookLandsEnd@fgsglobal.com
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