Clothing retailer New York & Co. names a new CEO

Apparel retailer New York & Co. announced former Bebe Stores president Gregory Scott will succeed chairman and CEO Richard P. Crystal who will retire from the company and board of directors when his contract expires in February 2011.

Scott will work as president of New York & Co., No. 257 in the Internet Retailer Top 500 Guide, beginning June 1. He will also join its board of directors. He'll assume the position of CEO after Crystal officially retires.

Prior to working as Bebe Stores CEO, Scott was president of Wet Seal Inc. division Arden B. and held senior-level merchandising positions at Ann Taylor Stores Corp. and Henri Bendel Inc.

"Now is the appropriate time to put New York & Company's next generation of leadership in place,” says Crystal. “Greg is a talented merchant and an outstanding choice for president of our company. His track record of success, along with his approachable and collaborative leadership style, gives me great confidence in his ability to be successful at New York & Co. I look forward to working closely with Greg over the next nine months to ensure a seamless transition."

New York & Co. named Crystal president and CEO in 1996. He has been chairman since 2004.