Abercrombie & Fitch CEO Michael Jeffries Retires

(RTTNews) - Abercrombie & Fitch Co. (ANF) announced that Michael Jeffries is retiring as Chief Executive Officer and a member of the Board of Directors, effective immediately.

The company stated that its current Non-Executive Chairman of the Board, Arthur Martinez, will become Executive Chairman.

The Board has established an Office of the Chairman, consisting of Martinez, as well as Jonathan Ramsden, Chief Operating Officer, Christos Angelides, Brand President of Abercrombie & Fitch and Fran Horowitz, Brand President of Hollister.

The Office of the Chairman, led by Arthur Martinez, will oversee the Company's strategic direction and be responsible for managing the Company's day-to-day operations until a new CEO is appointed.

The Board has commenced a search for Michael Jeffries's successor and has engaged a leading executive search firm to identify and evaluate both internal and external candidates.

Martinez has served as Non-Executive Chairman of Abercrombie & Fitch since January 2014. He has substantial public company board leadership and senior executive experience in the retail industry.

Ramsden has been with the Company for 6 years, and has served as Chief Operating Officer since January 2014.