The Top 500 retailer says CEO Robert Hanson has left his job. Former CEO Jay Schottenstein will take over the job until a permanent replacement is found.
Thad Rueter , Senior Editor
American Eagle Outfitters Inc. is in the hunt for a new CEO.
The apparel retailer, No. 64 in the Internet Retailer 2013 Top 500 Guide, did not say why CEO Robert Hanson has stepped down after some two years on the job. Last month, American Eagle said its revenue declined 5.8% year over year for the third quarter ended Nov. 2, though its direct business, including online sales, increased 17%. Net income fell 68.3%.
Jay L. Schottenstein, executive chairman of the board, takes over as interim CEO while the company searches for a permanent replacement. Schottenstein had worked at American Eagle CEO from March 1992 until December 2002, the retailer says. American Eagle also says that Roger S. Markfield will postpone his retirement and continue as vice chairman and executive creative director.
“On behalf of the board of directors, I want to thank Robert for his contributions during his tenure and wish him well in his future endeavors,” says Schottenstein. “I look forward to working closely with Roger and our talented team to capitalize on the significant potential of our brands and to position the company for growth and long-term success.”