Wednesday, January 23, 2008

Breaking News: President of J-Crew Resigns!

According to WWD, Jeffrey Pfeifle, president of J-Crew will be departing the company on February 1, 2008. Pfeifle has been a close personal friend and the number-two executive at the retailer, reporting to chairman and chief executive officer Mickey Drexler, since 2003.
Anyone have any insight? It sounds like they may not be replacing him for now. Was he forced out? Have sales been down?
Update: According to the Wall Street Journal, before joining J-Crew, "both were part of management at Gap. Mr. Drexler was chief executive and president of Gap. Mr. Pfeifle was executive vice president of Gap's Old Navy division and vice president of its Banana Republic division. J-Crew started in 1983 as a catalog retailer before expanding into retail and factory-outlet stores. The company went public in 2005."

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