Fran Horowitz Promotion A&F CEO Surprise
Before Tuesday, the US youth clothing retailer Abercrombie&Fitch Co. (NYSE:ANF) announced the promotion of its Hollister brand president, Fran Horowitz, as president and chief business officer of the group.
She will report to the group chairman, Arthur C Martinez.
The former president, Christos Angelides, has left.
stay
A&F
Mike Jeffries, the former chief executive of the group, stepped into the A&F group's Arthur C Martinez and Fran Horowitz almost at the same time.
Competitor
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Christos Angelides ranked even more than Fran Horowitz.
But the reversal of the story is unexpected.
In the statement of the chairman of the group and the appointment of the interim CEOArthur Martinez, he praised
Fran Horowitz
Business capabilities and leadership, as well as an important role in Hollister brand recovery.
More importantly, A&F has recently abandoned the "erotic marketing" approach that the former CEO and group have pursued. The industry believes that being a female Fran Horowitz is the biggest driving force behind it.
According to data analysis, it is a great possibility for A&F executives to make such a decision. The Holister brand, led by Fran Horowitz, has achieved super expected quarterly results in the past two quarters in the past three quarters. It also recorded the first increase in the same store sales in the last three quarters.
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