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Abercrombie & Fitch Investors Urge CEO Mike Jeffries To Resign!

| Filed under: Fashion SmashionBusiness BlitzAbercrombie & Fitch

Abercrombie & Fitch CEO may finally get the boot!

It's been a less-than-stellar year for Abercrombie & Fitch CEO Mike Jeffries.

Insensitive remarks he made a few years ago about not wanting "overweight" people shopping in the company's stores went viral, unleashing a major backlash against the brand.

Although he apologized, the damage was done, and the company's sales began to suffer so much that they were recently forced to add larger sizes to cater to more consumers.

Apparently, that still wasn't enough to bring customers back, so now the brand's investors have called for Jeffries to resign!

In a letter to the company, investor Engaged Capital wrote:

“Investors in Abercrombie have endured poor performance due to poor leadership for far too long. The Board needs to come to the same conclusion that everyone else already has – it is time for new leadership at ANF. The renewal of Mr. Jeffries’s employment contract would be a direct contradiction to what shareholders want and the Company needs. ANF’s future success will be dependent on the Company’s ability to adapt to a fast changing retail environment, carefully manage expenses, and efficiently allocate capital. We urge the Board to immediately commence a CEO search for candidates with relevant retail apparel and turnaround experience or consider a sale of the Company.”

Dayum! They're not messing around!

And they even added a pretty damning assessment of the brand by CNBC's Jim Cramer that called out Jeffries specifically:

“This used to be the hottest teen brand in the world, yet under Jeffries’s recent leadership, Abercrombie & Fitch has become practically irrelevant.”

Ouch! Harsh but accurate!

After the letter was made public, shares of A&F actually ROSE 7.3%, which seems to suggest that many others would like to see a change of leadership at the company.

Jeffries is still at the helm for now, but we wouldn't be surprised if had to start looking for new employment soon.

You can read the letter in its entirety HERE!

[Image via WENN.]

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11 comments to “Abercrombie & Fitch Investors Urge CEO Mike Jeffries To Resign!”



  1. 1

    I used to love shopping there years ago and got my late husband several nice shirts and sweaters but then they started catering to the young crowd and lost my business.

  2. no fattiees says – reply to this


    2

    who needs fat ugly men when u got these yummy no one needs fatties

  3. Esin Emko says – reply to this


    3

    I'm so tired of fat fuckers being so sensitive about their overweight conditions…
    Either they should go on a diet or STFU…

  4. Get OverIt says – reply to this


    4

    These guys look like size 30 jeans, maybe….. abercrombie only sells up to 34 right? so if these guys eat anything they can't even shop there…… There are extremely fit and ripped people that can't shop at that pro-anorexic clothing store. I bet none of your fireman calendar models can even shop there, because they are to "fat"!!!!

  5. goon Is As Goon Does says – reply to this


    5

    There is no such thing as free speech in our society today. The PC nazis are making it so that you can't speak your own feelings. You have to cater to the feelings of others. I want to live in a world of people saying what they think and feel not what they think others want them to think and feel. I want to live with genuine people. If its ok for guy models to be skinny and fat free then Its ok for female models to be. Women are trying to engineer a world of fat female models posing next to skinny male models in ads. I'd rather see anorexics than that farce.



  6. 6

    Oh gosh most people in these comments are idiots and have no feelings. And they are losing business because those type of brands are cheap mall clothes. People are evolving in fashion and realize they don't want to have the same shirt and brand as everyone else.

  7. goon Is As Goon Does says – reply to this


    7

    Re: kdlp1322 – Do PC nazis ever sleep, you goon?

  8. Goon Is As Goon Does says – reply to this


    8

    Re: no fattiees – LOL, you said that as if you could score a super model male. I'm pretty sure you cant and haven't. You, ma'am, are with an average joe like 90% of females i've ever known.



  9. 9

    Meh, being overweight is something that can EASILY be fixed. It's so nice to know PC 20 something libs are so entitled these days they feel as if they can force companies to cater to everyone. They do not have to cater to overweight people. Stop whining.

  10. R says – reply to this


    10
  11. Robert says – reply to this


    11

    Mike Jeffries scandalous character made his job at risk.