- Push-out Score determined
- After about six years in the position
- Praise and thanks for Griffith
- Andrew McLean taking over
- Griffith will remain as Executive Vice Chair at Lands’ End
- Griffith said 126 words
(exechange) — Dodgeville, Wisconsin, September 12, 2022 — Jerome Griffith, chief executive of Lands’ End, leaves his position. As announced by Lands’ End Inc. in a news release and in a regulatory filing published on Monday, September 12, 2022, Jerome Griffith leaves his post as chief executive officer at the casual clothing, accessories and footwear company, after about six years in the role, effective January 27, 2023.
Jerome Griffith’s duties as CEO will be taken over by Andrew J. McLean, currently President, International at American Eagle Outfitters.
The fact that Jerome Griffith’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Lands’ End did not explicitly explain the reason for the move.
Griffith will remain as Executive Vice Chair at Lands’ End
“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,” Lands’ End said.
“Retirement”
Lands’ End said: “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.”
Share price decline since September 2021
The announcement follows a decline in Lands’ End Inc.’s share price of 69% since September 2021.
In the position of CEO since 2017
Jerome Griffith became CEO of the Company in 2017.
Jerome Griffith has served as Chief Executive Officer of Lands’ End and as a member of the Board since March 2017.
In addition, between March 2017 and March 2021 he was also President.
He served as the Chief Executive Officer, President and a member of the board of directors of Tumi Holdings, Inc., a global lifestyle brand, from April 2009 until its sale in August 2016 to Samsonite International S.A. From 2002 to 2009, he was employed at Esprit Holdings Limited, a global fashion brand, where he was promoted to Chief Operating Officer and appointed to the board in 2004, then promoted to President of Esprit North and South America in 2006. From 1999 to 2002, he worked as an Executive Vice President at Tommy Hilfiger.
From 1998 to 1999, he worked as the President of Retail at the J. Peterman Company, a catalog-based apparel and retail company.
From 1989 through 1998, he worked in various positions of increasing responsibility at Gap, Inc.
Previously, he served as a member of the board of Parsons School of Design, which is part of the New School, from 2013 to 2020, and as a member of the Supervisory Board of the Tom Tailor Group from May 2015 to March 2017.
He has served as a member of the board of Vince Holding Corp. since November 2013 and Samsonite International S.A. since August 2016.
He holds a B.S. degree in marketing from The Pennsylvania State University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jerome Griffith’s move on a scale of 0 to 10.
exechange reached out to Lands’ End and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 38.2022 ($).